Police have dropped an investigation into Gary Ablett senior over historical allegations of sexual assault after they found insufficient evidence to press charges.

The allegations dated back to the late 1970s.

Gary Ablett senior. Credit:Pat Scala

Police on Monday said the investigation into the Geelong legend had been dropped.

"Central Gippsland Sexual Offences and Child Abuse Investigation Team have finished their investigation into a 57-year-old Grovedale man in relation to historic sexual assault allegations," a police spokeswoman said in a statement.