The 14-month-old boy was sleeping inside the vehicle on a remote area of Fraser Island in Queensland when the wild dog entered and bit his neck, BBC reported.
His parents were woken by their son's cries which were "getting further away from the campervan", said a paramedic.
The father immediately ran out and snatched him from the dingo's jaws.
The toddler suffered two deep cuts to the top of his neck and minor cuts to his scalp in Thursday's incident. He was airlifted to hospital for treatment.
Paramedic Ben Du Toit told local media the father, who has not been named, "found the dingo dragging the toddler away from the campervan".
Several other dingoes were in the area.
"He immediately ran up and grabbed his son and chased some of the dingoes off," said Mr. Du Toit.
It is the third dingo attack on Fraser Island this year – both previous attacks also involved children.
The most famous case of a dingo attack involved nine-week-old Azaria Chamberlain, who disappeared from a campsite near Uluru/Ayers Rock in 1980.
Her mother was convicted of her murder and spent three years in jail before a court quashed her conviction and ruled that her baby had been taken by a dingo.
Dingoes are thought to be descended from a domestic dog brought in from Indonesia some 3,000 to 4,000 years ago.