Emergency services were called to Nortons Basin at Mulgoa at 11am today after a member of the public reported the man missing after he jumped into the water from a cliff.
A search is being carried out by NSW Police, the State Emergency Service swift water rescue team, Fire and Rescue NSW, NSW Ambulance and a PolAir helicopter.
Police have been told the man believed to be in his 60s had been fishing before he jumped into the water.
His partner raised the alarm when he failed to resurface.