A man has been rescued off the coast of Western Australia after a boat accident that killed one man and left another missing.

The 49-year-old was spotted by a local news helicopter after he had spent nearly 20 hours treading water.

A hammerhead shark was spotted near him as he tried to stay afloat off the coast of Leeman about 270km (167 miles) north of Perth, according to local media.

He was pulled to safety by a rescue boat and flown to hospital in Perth.

The search for the third man is continuing.