Police have launched an air and ground search for Wallace McGown after he went missing in Molyullah on Wednesday.

Wallace set out for his daily walk from his Watchbox Creek Road residence about 11am, Wednesday and has not been seen since.

The 85-year-old has dementia. He was last seen wearing black track pants, a black thermal skivy and ASICS runners.

The Police Airwing, Search and Rescue Squad, Dog Squad, Mounted Branch, and local uniform members are today searching Molyullah and surrounding areas.

IN OTHER NEWS:

Police are being supported by CFA and the State Emergency Services in searching for Wallace.

Anyone who sees Wallace or has information on his current whereabouts is urged to call Benalla Police Station on 5760 0200.

Previously:

July 15

Police are appealing for public assistance to help locate missing Molyullah man, Wallace McGown after he didn't return from his daily walk.

A Victoria Police statement said the man went for a walk from his Watchbox Creek Road home about 11am and he has not been seen since.

"Police and Wallace's family hold concerns for his welfare as the 85-year-old suffers from dementia," the statement said.

"Wallace was last seen wearing black track pants, black thermal skivy and ASICS runners.

"Police have conducted patrols of the surrounding area however they have not been able to locate Wallace and are seeking assistance from the public in the hope they can locate him before nightfall."

Anyone who has seen Wallace or has information on his current whereabouts is urged to call Benalla Police Station on 5760 0200.