On Thursday, October 3, the holidaymaker went to rescue his two children, aged 10 and 12, who were inadvertently caught in a rip. He entered the water and got into difficulty, disappearing below the surface.

The children's mother entered the water, reached her children and brought them back to shore.

A short time late the man was seen floating in shallow water nearby. Police pulled the man from the water and immediately began CPR. However, the man could not be revived.

NSW Police, the Westpac Lifesaver Rescue Helicopter, Surf Life Saving NSW Duty Officers and Shoalhaven Council Lifeguards were tasked to attend the incident along with the Ambulance Helicopter from Canberra.

Steven Pearce, CEO of Surf Life Saving NSW, said that it was a tragic incident and urged holidaymakers to take extra care around the water this long weekend.

"This is an extremely sad incident. What should have been a happy day on the beach for this family has ended in tragedy," Mr Pearce said.

"We can't stress enough the importance of swimming between the red and yellow flags at patrolled locations this long weekend. Because if our lifesavers can't see you, they can't save you."

Surf Life Saving NSW extends its sincere condolences to the man's wife and family.

A NSW Police Media spokesperson said officers will prepare a report for the coroner.