A man who fell five metres onto some rocks at Myrniong, near Bacchus Marsh, was airlifted to hospital.
The man was walking near a dam about 9.30am when he slipped and fell, landing partly on rocks and partly in water, said a spokesman for Ambulance Victoria.
He received injuries to his upper body and was taken by air ambulance to the Royal Melbourne Hopsital in a stable condition.
The man was in his mid-40s, said the spokesman.