A man has died after falling off his bicycle and down a steep embankment in Victoria's east.

Police say the 67-year-old Nyora man was riding his bike along Loch Poowong Road, Poowong around 11am (AEDT) when he lost control.

He was airlifted to the Alfred Hospital, but died upon arrival.

It takes the state's provisional road toll to 195, up from 178 for this time last year.