Police have found 74-year-old man Leopold Hungsberg

Leopold, who also goes by Leo, went missing at about 4pm on Wednesday, and his last known location was the cattle grate on Kambah Pool road.

Police said he was located approximately 1.8km north of Kambah Pool in dense bushland about 11am Thursday morning by SES search teams.

"An ACT Ambulance Service paramedic was winched down from the TOLL Rescue helicopter to the missing man, and a plan made to facilitate his safe extraction. He was then flown to Canberra Hospital for observation," they said.