An 87-year-old man has sadly died after his boat capsized in a lake near Cooma today.

Emergency workers were called to Braemar Bay, west of Cooma, about 9.30am on Saturday after reports a small boat flipped.

Police were told the man had been sighted on the boat, however, had not been seen again after it flipped.

Water police, divers, helicopter crews, lifesavers and State Emergency Service volunteers joined the search, police said.

Following the extensive search, the body of the elderly man was located by Police Divers about 4.30pm and taken to Cooma Hospital.

A report will now be prepared for the information of the Coroner.

Get all the latest Canberra news, sport, entertainment, lifestyle, competitions and more delivered straight to your inbox with the Canberra Daily Daily Newsletter. Sign up here.