Two men are in custody following a police pursuit south east of Melbourne.

The stolen black Holden Commodore was first spotted on the Nepean Highway at Mornington about 4.30am on Monday morning.

The driver refused to pull over.

Police monitored the vehicle through to Frankston before engaging in a pursuit, eventually intercepting the commodore on Nepean Highway near Reserve Road at Seaford shortly before 5am.

Two men aged in their 20s remain in custody.

Police are urging witnesses, particularly anyone with dashcam footage, to come forward.