Three people have drowned and a woman in her 20s is in a critical condition after an incident at Forrest Caves beach this afternoon.

Ambulance Victoria said paramedics were called to the beach around 3.30pm. Helicopters and police also attended the scene.

One woman has been airlifted to The Alfred in a critical condition.

Victoria Police confirmed three people had drowned and a report will be prepared for the coroner.

"Emergency services responded to reports of four people in the water and in difficulty about 3.30pm," the police media team stated.

"Three women and a man were pulled from the water and were unresponsive.

"CPR was administered on all four but three were pronounced deceased at the scene.

"At this stage the deceased are believed to be a man in his 40s and two women in their 20s."

Police said the deceased have not been formally identified and their deaths are not being treated as suspicious.

Dangerous

Forrest Caves is popular with surfers, but known for its dangerous currents and rips.

A local surfer said as an unpatrolled beach, Forrest Caves was a dangerous place to swim.

"It has lots of deep channels between the banks and lots of currents."

He described the conditions today as a "small, junky, confused swell with onshore winds".

"It was always going to be dangerous with rips," he said.

The beach has signage warning of the dangers of swimming at an unpatrolled location.

"Are there enough signs there,' the surfer queried,

"I'm not sure. But people just don't read the signs.

"I don't think people are surf aware that come here on holidays.

"At anytime, the beach is a dangerous place. You need to be switched on."

Blackspot

Bass Coast is considered one of the state's key blackspot drowning locations, with the island's ocean beaches claiming at least seven lives since January 2016.

The Island's ocean beaches are notoriously tricky for swimmers, with an estimated 50 people rescued from the surf at Cape Woolamai each summer.

Beachsafe.org lists Forrest Caves beach as one that requires "extreme care if bathing", dominated by high waves and rips.

"Even in the calmer inner waters of Forrest Caves, strong currents sweep the reefs."

There are currently three patrolled beaches on Phillip Island: Woolamai, Smiths Beach and Cowes foreshore all have life savers on duty between 10am and 6pm seven days a week, through until January 26.

Last year, Terry Aslanidis Director of Member Development at Woolamai Beach Surf Lifesaving Club told the Advertiser people should check the conditions and assess if it is safe to swim.

"If you are unsure on the dangers, the Beach Safe App provides detailed information from patrol status, facilities and hazards, to weather, swell and tide."