A Sunshine Coast man has had a lucky escape after a shark bit off the back of his kayak in Moreton Bay.

The Maroochydore man was paddling towards Mud Island on Sunday afternoon when his kayak was attacked by the shark and began to sink about eight kilometres east of Woody Point.

The man was rescued by water police just before 4:00pm.

His damaged 6.5-metre kayak was also recovered from the water, sporting a large hole from where the shark had bitten into it.

Police said the man was not hurt, but was shaken and glad to be out of the water.

Sergeant Gordon Thiry said it was very fortunate they were able to find the man in time.

"We would encourage anyone heading out on the water to always wear a life jacket, carry an EPIRB and make sure you let someone else know where you're travelling to and how long it will take," he said.