One man is dead and another is in a serious condition after a boating incident on Lake Manapouri at the weekend (20 Jul).

Southland Area Commander Inspector Mike Bowman said Police were advised around 7:20pm on Sunday night that two experienced fishers had failed to return from a fishing trip on the lake, and had also failed to check in on the radio.

An aerial search was mounted for the boat using a local helicopter along with marine radio calls and area inquiries.

The helicopter located the boat, with the two men onboard, around 12:30am in Safe Cove.

However one man was deceased while the other was found in serious condition.

Bowman said the man in a serious condition was taken to hospital where he is now recovering well.

Police are investigating the series of events before the pair was discovered.

Enquiries will be made by Police on behalf of the Coroner in relation to the deceased, Bowman said.