Emergency services were called to Balnarring Beach on the Mornington Peninsula about 1pm after a man reportedly fell out of a kayak and into the water near Mason Smith Road.
The man was pulled from the water by bystanders, according to police.
Paramedics attempted to revive him at the scene, but he died despite their efforts.
The man has not yet been formally identified.
Police will prepare a report for the coroner into the man’s death.
