The search for a 74-year-old woman missing in Victoria’s south-west is stretching into a third day.

Elizabeth, known as Kay, was last seen bushwalking near Swan Lake camping ground at Mt Richmond at about 10.45am on Wednesday.

The police air wing, dog squad and mounted branch have been called in to assist in the search for her.

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Kay was last seen wearing a tan-coloured broad-brimmed hat, blue-patterned scarf, khaki trench coat, royal purple jacket, deep blue top, light blue jeans and black shoes.

Her family say her disappearance is out of character and they’re concerned because she has a medical condition.

Anyone who sees Kay is urged to call Triple Zero. Anyone with information on her whereabouts is being asked to call Crime Stoppers on 1800 333 000.