Residents of Campbell were woken early by the presence of a low-flying helicopter as an intense search began on Lake Burley Griffin for the man.

About 1.15am, officers followed a car to the shores of Lake Burley Griffin. It carried people suspected to be involved in property crime and who had earlier failed to stop for police.

A man and woman fled the car when police arrived. The woman was found and arrested a short time later.

Police chased the man and he jumped into Lake Burley Griffin. He was last seen about 100 metres from the water's edge near Kings Avenue.

In an attempt to find him, police boats and the Toll SouthCare Rescue helicopter were called in and a police forward command post was established down by the Boat House, on the lake's northern shore.

Areas of the lake near the Boat House were cordoned off to cyclists and walkers.

ACT Fire and Rescue and the ACT Ambulance were also in attendance.

The man is yet to be found and police divers were seen lowering grapples into the lake water on Monday morning at first light. They kept searching through the day.

Other police patrols were searching the lower reaches of the Molonglo River, the weed and debris-laden wetlands on the western bank, and around Bowen Drive on the southern shore.

Although Canberra's overnight temperature had dropped to a low of 14 degrees and the lake at this time of year usually varies in temperature between 17 to 21 degrees, there has been recent rain and heavy inflows to the lake from stormwater run-off.

These conditions have increased turbulence, created high levels of suspended sediment and have the potential to generate cold "pockets" of water.

Parts of the lake are closed due to poor water quality and ACT Health advises that contaminated stormwater can affect the lake's water quality and pose a number of health risks to swimmers.

Detective Superintendent Scott Moller said police were seeking to confirm the man's identity.

"Visibility at that time of the morning was poor, so we also undertook a thorough search of the area that he was last seen to find more information about the incident," Detective Superintendent Moller said.

"There are several persons of interest who we have identified as connected to this incident, and will be continuing our inquiries, which includes speaking to witnesses.

"I expect there will be further charges laid in the future."

The car in which the man had been travelling has been seized by police.

Two other women also connected to this incident were arrested by police. All three women faced the ACT Magistrates Court on Monday.

"I'd encourage anyone who has information to come forward to help with our investigation," Detective Superintendent Moller said.

Anyone with information that could help police is urged to contact Crime Stoppers on 1800 333 000, or via the Crime Stoppers ACT website and quote reference 6703239. Information can be provided anonymously.