Search for missing Vic fisherman

Police fear for a missing fisherman after an upturned boat was found in Victoria's southeast.

Police began searching for the boat after maritime authorities picked up a distress signal of a boat in trouble at about 3.40am (AEDT).

The boat was discovered at the bottom of cliffs on the Kilcunda coastline, near Phillip Island, at about 5am.

Water police are on their way to the scene and the coastguard are in the water searching for the fisherman, who left the Newhaven jetty on Phillip Island at about 3.30pm on Saturday.

Police believe the man, aged in his 30s, was expected to be out fishing all night.