Central District Police have released a statement saying 10-year-old Kyle Mcgillivray, who went missing last night in Marton, has been found.
It said: "Central District Police would like to confirm that the missing 10-year-old boy has been located safe and well, 5km out of Marton.
"Police would also like to express a huge thank you to all the members of the public for their assistance in the search for the missing boy."
Kyle Mcgillivray was visiting his grandmother in Marton and had taken her dog for a walk when he went missing about 4pm yesterday, police say.
Searchers found the dog and continued looking for Kyle until the early hours of this morning.
The search by police, Landsar and Red Cross volunteers continued at first light today.
Constable Alan Spooner says young locals spotted him five kilometres south of the town, wandering down train tracks.
"Some young locals contacted police as soon as they located him. The family are very happy, they are with him. He's just a little bit wet and needing some food otherwise he's fit and well."
Constable Spooner says no one's sure where the boy disappeared to, but thinks he may've been walking through paddocks.