UPDATED: A woman who was reported missing in the Mangkino area has been found.

Lucy, 83, was reported missing after last being seen in the Lake Road area of Mangakino at about 5.30pm.

A search and rescue operation was launched with the involvment of police, firefighters and local residents.

"She was located safe and well just after midnight. Your assistance is very much appreciated, and helped lt in a great result," police say on a Facebook post this morning.

Earlier:

A search and rescue operation has been launched in the Mangakino area following the disappearance of a local woman.

Police say Lucy is a female Caucasian of short stature and medium build.

Lucy was last seen at about 5.30pm.

'She is 83-years-old and suffers from dementia,” says Senior Sergeant Karl Konlechner in a statement released overnight.

'She was last seen in the Lake Road area of Mangakino at about 5.30pm.”

Lucy was wearing a white jacket, trackpants and bright orange, she has mid-length grey hair.

'Lucy is likely to be disoriented and wandering.

'Police search and rescue are being assisted by volunteer fire service, local residents and volunteers in the search,” says Karl.

'A specially trained search and rescue dog was deployed and local residents are being encouraged to check their properties and out buildings for any sign of Lucy.”

Anyone finding Lucy should call police urgently 111.