A body has been found in the search for a man who went missing on Lake Macquarie on Monday afternoon.
Police were alerted to the missing 60-year-old around 5pm Monday after a witness saw him disappear in the lake.
Officers were told the man had been trying to recover a yacht which had run aground about a week ago, when a tinny he was using to reach it separated from a mooring in the lake.
The witness told police they saw him swimming back to the tinny, before they lost sight of him.
The man was last seen swimming towards his tinny in Lake Macquarie. (ABC Newcastle: Madeline Lewis)
New South Wales Police confirmed a body was located near a boat ramp at Valentine at about 7:30am on Tuesday.
An extensive land and water search had been due to resume, but was abandoned.
Police say the body is yet to be formally identified, but it is believed to be that of the missing man.
A report will be prepared for the NSW coroner.