Missing elderly Melbourne man found dead

The family of an elderly Melbourne man whose body has been found after he went missing en route to NSW, have thanked emergency services for their search efforts

Ronald McMaster, 95, who went missing en route to the south coast of NSW, has been found dead. (AAP)

An elderly Melbourne man, missing in his classic car for more than a week, has been found dead near his vehicle at the base of an embankment.

Ronald McMaster, 95 from Toorak, left for a road trip to the NSW south coast in his 1967 Vanden Plas sedan on May 4 and had been missing since.

Passers-by spotted a car down an embankment at Moornapa, in the state's east, and later found a man's body, police said on Thursday.

"Ronald's death is not being treated as suspicious and a report will be prepared for the coroner," police said in a statement.

His family released a statement on Thursday evening thanking those who helped in the search.

"We have been overwhelmed by their professionalism and determination to find Ron," they said.

"We would also like to thank the public for their interest - in particular, to the SES volunteers who found him as well as all the other community groups who looked for Ron. We have gained much comfort from their response."