The man’s body was recovered from the water by the Westpac helicopter.
Emergency services had been called to Frazer Park, south of Newcastle on the NSW Central Coast at 1.20pm on Saturday following reports the rock fisherman was swept into the water.
Tuggerah Lakes Police District, Marine Area Command, Surf Life Saving NSW and NSW Ambulance paramedics were all called.
The man was with two others and one jumped in and tried to save him.
He was rescued by a passing boat.
A report will be prepared for the information of the Coroner.