Senior Sergeant Craig Dinnissen, of Dunedin, said police headed to St Clair after receiving a call from the member of the public about 6.50pm.
The man had been found attached to his surfboard.
When police arrived, the member of the public was attempting to revive the man with CPR.
The attempt was unsuccessful.
A police statement this morning said the body was found in the water, in the Middle Beach area.
Te Rūnanga o Ōtākou has now placed a rāhui (temporary closure) for the area surrounding St Kilda and St Clair beaches until 9am on Wednesday .
"Our deepest aroha and sympathy goes out to this whanau who have lost a loved father and dear friend."
The rāhui applies to the gathering of kaimoana/seafood and recreational activities.
The South Coast Board Riders Club said on social media the deceased was a local surfer.
Police said they were making enquiries in relation to the death on behalf of the coroner.
The death was not regarded as suspicious.
- additional reporting ODT Online