Search continues for missing Vic yachtsman

The search continues for a man who fell off a yacht in Victoria.

The 44-year-old Wangaratta man was on the yacht with family members when he fell overboard near the coastal town of Seaspray on Monday afternoon.

A 23-year-old man dived into the water to try to rescue him but rough seas meant he was unsuccessful, police say.

He was treated for minor hypothermia in hospital overnight.

Police, with the assistance of the SES and surf lifesavers, resumed the search at first light on Tuesday and will continue looking until night fall.