UPDATE 11:45AM: Much loved farmer and Rusty's Markets stall holder Alfonso Muoio has been found deceased after being swept away in floodwaters near Tolga yesterday.

The 60-year-old was found by emergency services just before 11am after a widespread search and rescue effort.

His body was discovered in the Barron River about 7kms away from the spot where he was swept away.

EARLIER: Authorities returned to Tolga before dawn to resume a search for a 60-year-old swept away in flash flooding yesterday.

The man was last seen on foot in the vicinity of Spring Creek, with witnesses saying he was walking under a railway bridge around 6pm yesterday.

Tablelands Police co-ordinated the search and rescue operation which continued until 11pm last night.

QPS officers then continued to monitor the creek line during the night.