Two men have died after they were pulled from rough water off Frankston Beach in Melbourne's south, as Victoria was lashed with wild weather.

A police chopper was called to Port Philip around 5pm after reports the two men had gotten into trouble in the water.

A search was conducted and the pair was spotted unresponsive in the water.

Both men were winched back to shore but they could not revived.

They are yet to be formally identified.

A police spokesperson said a report would be prepared for the coroner.

The incident unfolded during on a day of severe weather across the state.

A tram and car have been hit by a falling tree in Melbourne and dangerous winds have forced Geelong Cup organisers to call off racing for the day as an intense low pressure system sweeps across Victoria.

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