Rescuers have located what they believe is the wreckage of a plane reported missing over the Snowy Mountains on Tuesday.

About 4pm on Thursday, 17 July a rescue helicopter located a crashed plane, near the missing aircraft's last known GPS location.

A search was launched on Tuesday afternoon after emergency services were notified of a possible plane crash in the area of Dargals Trail in the Snowy Mountains.

A command post was established, and a search commenced involving officers attached to the NSW Police Alpine Operations Unit, with assistance from NSW and Victoria Ambulance Service, National Parks and Wildlife Service, and the Joint Rescue Co-ordination Centre airwing, but the plane could not be located.

The Australian Maritime Safety Authority (AMSA) was notified by Air Services Australia that a plane took off from Wangaratta, bound for Moruya Airport; however, it never arrived.

The AMSA Challenger rescue jet and two helicopters, from Victoria and Sydney conducted an overhead search.

Search crews have been navigating steep terrain impacted by snow and foggy condition.

NSW Police Force now have carriage of this matter with investigations to continue on Friday, 18 July.

The condition of the pilot is unknown. There were no passengers in the aircraft.