Emergency services are currently searching for a woman and ultra-light aircraft after it crashed into Lake Eildon this afternoon.
It is understood the fixed wing ultra-light aircraft crashed into the water near Mountain Bay about 12.20pm.
The male pilot, aged in his 40's, was picked up by a fishing boat and is being treated by paramedics.
Local emergency services personnel including police, CFA and SES marine unit are currently searching the waters for the missing female passenger and aircraft.
Water Police and Search and Rescue officers are currently on their way to Lake Eildon to assist.
The Civil Aviation Safety Authority and the Australian Transport Safety Bureau have been notified.
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