A fisherman dived into the ocean in a desperate bid to save his friend after he was knocked off rocks by a rogue wave, on Saturday but he was unsuccessful.
The man died after being swept into the water while fishing at Cape Saunders, on the Otago Peninsula.
Another man who was fishing with him was flown to hospital after he jumped into the water and tried to support his friend while waiting for emergency services to arrive.
Senior Sergeant Brian Benn, of Dunedin, said police were notified at 4.07pm that someone was in the water, about 50m offshore.
A second person had gone in after him with a life ring to help him, but the man was not breathing.
By 4.30pm, a rescue helicopter was at the scene.