The two children reported missing in Mavora Lakes area have been located and are safe and well.

At around 10am today searchers located the two children, one-and-a-half kilometres from the campground in a clearing near the lake.

They have been transported back to the Search and Rescue base and are being assessed by medical staff.

Police wish to thank everyone who was involved in the search overnight and this morning, including volunteers who travelled from around the Southern region to join the search.