Police believe the man to be missing Blackwood man Matthew Williams, however he has not yet been formally identified. 

Mr Williams left his Blackwood home and told family he was going gold prospecting in Lerderderg State Forest on Sunday, December 21.

The body was located by a local man around 7.35pm on Saturday on Bee Track, in forest near Blackwood.

The body was located next to a red Toyota utility, believed to be the same vehicle that Mr Williams left home in last week.

Emergency services, family and volunteers had conducted a thorough search of the surrounding Blackwood area in the Lerderderg State Forest since Mr Williams was reported missing.

Police do not believe there are any suspicious circumstances, however will await the results of an autopsy. 

Moorabool Crime Investigation Unit detectives will prepare a report for the Coroner.

david.jeans@fairfaxmedia.com.au