Mount Waverley Police Station

Shifen Zhu was found about 1.30am on Thursday, after her very long walk. Photo: Victoria Police

An elderly Chinese woman who failed to return from her morning walk on Wednesday is still missing.

Her family reported her missing in the afternoon.

But police had already found the 80-year-old Chinese woman, who doesn't speak any English, hours earlier - only to drop her off at a freeway exit.

A police media spokeswoman said a Highway Patrol Unit came across the elderly woman, who didn't speak any English, walking along the Monash Freeway about 7.30am on Wednesday.

Police took Shifen Zhu from the area for "her safety".

"When they reached Foster Road [exit], she indicated she wanted to get out, so the officers have let her out, " the spokeswoman said. "She appeared fit and alert, so there were no concerns for her welfare except for ensuring she was no longer walking on the freeway."

Her family then reported her missing at 1.15pm.

The Victoria Police Twitter account reported Shifen had been found just before midnight.

Great news! Missing woman Shifen Zhu has been located. She is safe and uninjured and has been taken to hospital as a precaution.

— Victoria Police (@VictoriaPolice)

But then issued a clarification, saying she remains missing.

Police are still looking for missing woman Shifen Zhu. The prior update that she had been located was posted in error.

— Victoria Police (@VictoriaPolice)

The woman was last seen walking along Hardner Road in Mount Waverley at about 8am on Wednesday.

Her granddaughter Sophie Du told Channel Seven news that she'd been told Shifen didn't look like she was lost.

"They thought she could find her home, " Ms Du said. "But the fact is she doesn't know anything in Australia."

Victoria Police senior media officer Leonie Johnson said Shifen was visiting family from China and did not speak any English, had no phone or money with her.

"Police and Shifen's family hold serious concerns for her safety due to her age and a medical condition which requires daily medication that was not taken today, " Ms Johnson said. "Shifen is Chinese, has short grey hair and dark brown eyes. She was last seen wearing a beige or cream shirt and pants." The police Air Wing searched the area, along with local police and SES members.