According to the Victoria Police statement Triantafilos Panagopoulos was last seen yesterday about 5pm leaving his residential address on Perth Street, Prahran.
He is described as 175cm tall with a medium build, grey hair and brown eyes.
He was wearing a white shirt, grey pants and black shoes.
Police hold concerns for Triantafilos as he has a medical condition and requires medication.
He often travels by train and is known to go to Sunbury, Ballarat and Bendigo and frequents parks and gardens.
Police have released an image of Triantafilos in the hope someone recognises him and can provide information regarding his current whereabouts.
Anyone with information about Triantafilos is urged to contact Prahran Police Station on 9520 5200.