On Saturday morning about 6.30am, the man heard a car sounding its horn in the driveway of his High St home in Yandoit and went out to investigate.

Morabool Crime Investigation Unit Detective Senior Constable Craig Grenfell said the man then heard a loud bang, fell to the ground and realised he had been shot.

He received extensive damage to his right lower leg, lost a considerable amount of blood and drifted in and out of consciousness for about two hours before he could call emergency services about 8am.

"He's dragged himself back into his caravan, where he was able to telephone the ambulance," Det Sen Const Grenfell said.

The man was flown to The Alfred Hospital for surgery, but may have to have his leg amputated.

"The victim went back into surgery today (Monday)," Det Sen Const Grenfell said.

"They'll have to wait and see how his circulation is going."

Police on Monday spoke to a number of nearby residents about the shooting.

Det Sen Const Grenfell described the man as a recluse.

"He has lived in the area for about 12 years," he said.

Det Sen Const Grenfell said no weapons had been recovered as yet and police were making inquiries.

"There are a number of people who will be spoken to," he said.

Police are appealing for people with information regarding the shooting to contact Crime Stoppers on 1800 333 000.