Breaking News: William Callaghan has been found alive after being lost in the bush for three days.

The 14-year-old autistic boy was lost in freezing conditions after becoming separated from his family at the long-weekend.

A massive search and rescue operation was undertaken at Mount Disappointment on Monday, north of Melbourne.

Hundreds of people had been searching for William in dense bush land for two nights.

William is alive and conscious just after midday Wednesday, media on scene reported.

His Family have just been told.

Hundreds of volunteers, police and rescue choppers and media were all helping to locate the boy.

More Updates soon

Earlier Williams mother told media she was optimistic.

“I’m feeling positive because he is quite resilient,” Ms Callaghan told media in a highly emotional press conference.

“Will is loved by everyone who comes across him. He’s got the most amazing smile.

“He’s a very beautiful person, he wouldn’t harm a fly. He is very gentle.

“I’m not the really praying type but I’m praying because I want him home.”