Australian minister rescued alive

Missing minister Tim Holding hugs his mother Caroline after arriving back by helicopter following his rescue. Photo / Getty Images

Victorian minister Tim Holding has been reunited with his parents and partner following his rescue from Mt Feathertop in the state's northeast.

Embarking from a helicopter on the Bright football oval, a smiling Mr Holding, wearing a blue jacket, hugged his mother, shook hands with his father and kissed his partner.

The politician also shook hands with police rescuers and Deputy Commissioner Kieran Walshe.

Moments before the helicopter landed, Mr Holding's mother Caroline expressed great relief.

"You can imagine how the last two days have been and we're very relieved now," Mrs Holding said.

"It's all been horrible, it's been horrible right from the beginning until we've got `til today so we're very, very pleased.

"And we just wanted to thank everybody who's been so wonderful in being able to find Tim.

"They've been very professional, so thank you."

Mr Holding was being taken by ambulance to Bright Hospital for assessment.

Mr Holding spent three freezing nights on Mt Feathertop, Victoria's second highest peak, after he set off alone on a hike on Saturday.

The alarm was raised when he failed to return on schedule at 4pm on Sunday.

In Melbourne, Victorian Premier John Brumby said it was "fantastic news' that the water minister had been found safe and well.

Mr Brumby thanked police and the 80 searchers who had been looking for Mr Holding since he was reported missing on Sunday night.

- AAP