The emergency services were called to Bretti reserve in Thunderbolts Way in Bretti, about 100 km west of Taree, after the Barnard River broke its banks around 10 pm during the night.
It was told to the police that a SUV that towed a caravan was dragged into the waters of the floods after an elderly driver tried to cross the road.
Despite the extensive search efforts during the night, the man and his car have not been found.
The search involved the members of SES, Polair and the Rural Firefighters Service of NSW.
Around 22 people were considered safe, but they could not leave the camp after it was surrounded by flood waters around 3 am
The aerial teams landed in the camp, however, the campers did not want to evacuate, police said.
Since then, the waters of the floods have begun to go back and the search for man will resume.
Emergency services have reminded drivers who do not lead through floods.
