Julio 'Lester' Ascui, from Keilor Downs, has been missing since Friday, last posting a photo from Halls Gap on social media.

The Keilor Downs man was found alive on Wednesday morning with only cuts and bruises.

Mr Ascui was reportedly found by Parks Victoria staff sitting next to a creek which he drank from in order to survive.

"I just coming to trek and I was lost for five days," Mr Asciu told reporters on Wednesday morning. "There's a little river, I came every morning to fill up my bottle."

Asked how he felt after being rescued, the 50-year-old said the moment was amazing. "I was really thirsty," he said.

Footage shared by Channel Nine shows Mr Ascui in remarkably high spirits after his rescue, walking with police and eating a banana, his tattered clothes the only sign of his incredible survival story.

His cousin Luis Ascui said he was "ecstatic".

The 50-year-old's car was located by family members at a car park on the corner of Stoney Creek Road and Rosea Track in Halls Gap at 5pm on Sunday.

Desperate family members, friends and SES workers spent five days searching for Mr Ascui.

More to come.