A Maiden Gully man has been charged with eight offences in relation to home made explosives detonated in Bendigo overnight as part of a dangerous prank.

The 24-year-old handed himself in to police at around 3.30pm today.

The charges include reckless conduct endangering life, manufacture explosive substance, criminal damage and cause explosion likely to endanger life.

Parts of the CBD were cordoned off this morning as a bomb response unit and arson chemist worked to remove a third undetonated pipe bomb.

Parts of the CBD were cordoned off. (Andrew Nelson, 9NEWS)

Police received numerous calls after residents heard loud explosions around 10pm.

One had been detonated at the intersection of Myrtle and King Street and the second outside the library in Hargreaves Street.

At 2am, an unexploded device was found in a bag in Chancery Lane.

One of the homemade devices was found in one of these bins. (9NEWS)

Police were called after reports of a loud explosion. (9NEWS)

No one is believed to have been injured in either of the two explosions.

Detective Sergeant Steve Rainey described it as a "moronic" Saturday night prank.

"It could have had catastrophic effects for anyone," he said.

Sgt Rainey said he suspected it was a prank that could have caused serious injury.

The man has been bailed to appear at Bendigo Magistrates Court on Tuesday.

© ninemsn 2014