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A 68-year-old man has been rescued by police after he fell overboard from his boat near Geelong this morning.
Emergency services were called after a tinnie was located doing circles in waters four kilometres off Indented Head about 9.30am.
No one was on board and police quickly began searching for the man with assistance of the Air Wing.
The man was found wearing a life jacket in waters about one-and-a-half kilometres from where his boat was located, about four hours later.
Inspector James Dalton said police had "grave concerns" for the man's welfare.
"To locate him so far away from his tinnie and so far off shore is like finding a needle in a haystack," he said.
"It was brilliant work by our members who really demonstrated their expertise on the water today.
"We understand this man had been in the water for about six hours."
Dalton said the man was lucky to be alive.
"Without a doubt he is alive due to the fact he was wearing a life jacket, those people who noticed something was wrong called the police and provided that large-scale response," he said.
The Altona man was taken to hospital, where he remains.
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