A search is underway for four teenagers missing in waters off Victoria’s Mornington Peninsula.

It’s believed an 18-year-old woman, two 18-year-old men and a 19-year-old woman were using inflatable paddle boards off Rosebud Beach on Monday.

Their belongings were found on the beach by a passerby at about 8pm.

A man who said he was the father of one of the boys told Seven’s Sunrise program on Tuesday the teens had just completed their final school exams and came to Rosebud for an end-of-year celebration.

Specialist police immediately scoured the area for the group but the search was halted at 4am due to deteriorating conditions.

It started up again at daybreak.