Hobart Hurricanes have missed out on the BBL finals, blowing a massive chance to advance in an 11-run defeat to bottom side Melbourne Renegades.

Only a win would do for the Hurricanes at the MCG on Tuesday and they were firmly in the box seat after restricting the Renegades to 5-150.

Despite losing big hitters Matthew Wade (13) and Ben McDermott (1) early in the run chase, they remained in control at 2-69 after 10 overs.

But D'Arcy Short (29) fell during the subsequent power surge - during which the Hurricanes only managed to add 1-10 to the total - as the Renegades turned the tide.

Young fast bowler Zak Evans (5-33) claimed the wickets of both openers and was brilliant at the death, taking another two wickets as he prevented the Hurricanes from hitting the 22 runs required off the final over.

Dawid Malan (34) top-scored as Hobart finished with 9-139.

The result left the Hurricanes to lament what might have been.

"We were only one game away from finishing up the top and that's the reality of a close competition," coach Adam Griffith said.

"We're really disappointed.

"We were poor with the bat tonight and just lost our way with no real intent.

"That positive intent that we've had recently disappeared tonight, unfortunately. We left it too little, too late."

The Renegades, who finished last for the second consecutive year, got reward for effort and persistence with their fourth win of the season.

They were sent in to bat and ground their way to 5-150 on the back of Beau Webster's unbeaten half-century.

Openers Aaron Finch (6) and Shaun Marsh (12) were out cheaply as Hurricanes quick Riley Meredith (3-22) did the damage in the first five overs.

Mackenzie Harvey (40 off 37) rode his luck through a dropped catch by Peter Handscomb and put on 63 for the fifth wicket with Webster, who made 54 not out.

The allrounder's 35-ball knock included four fours and a six.

Evans led an attack that featured strong contributions from Will Sutherland (1-22), Imad Wasim (1-22), Webster (0-31) and cult hero Peter Hatzoglou (1-24).

"Our bowlers were brilliant," Renegades captain Finch said.

"For such a young attack to stand up like that against some world-class players was brilliant.

"It will give them a huge amount of confidence because T20 can be a brutal game at times."