It is feared a light plane with two people onboard has crashed north of Moreton Island off the coast of Brisbane.

The plane was flying from Caloundra to Tangalooma and a mayday signal was sent at 4:30pm on Wednesday.

There is no word on the fate of the pilot and passenger.

Queensland Police and the Australian Maritime Safety Authority (AMSA) are coordinating a rescue effort that includes two rescue helicopters and multiple sea vessels.

However an AMSA spokesperson said that search conditions in the 500 square kilometre area were difficult with rough seas and storm activity in the area as they looked for the light fixed-wing aeroplane.

"The information that alerted us to this was received via Brisbane air traffic services and it was received via a radio call from the pilot," she said.

"Debris has been sighted floating in the water southeast of Cape Moreton, but it has not been confirmed as being from the aircraft at this time.

"We have sighted nothing further. Search operations will continue overnight."

