Detective Senior Constable Chris Potter, of the Colac police crime investigation unit, said officers had been conducting inquiries into the whereabouts of the 27-year-old man who was wanted on seven warrants of apprehension.

Those warrants relate to a range of charges involving crime, driving and alleged bail offences. ​

Detectives went to a  Florence Road ​address at ​Elliminyt​, south of Colac, on Tuesday and arrested the man.

Police will allege the loaded high-powered rifle was next to the man on a couch when he was taken into custody.

Detective Senior Constable Potter said officers also found a handgun, another rifle, substances thought to be cannabis and ice and jewellery and tools suspected ​of being the ​proceeds of crime​.

​​"Inquiries led to the arrest of the man," he said.

"He's been charged with being a prohibited person in possession of firearms, possessing a pistol without a licence, three counts of handling stolen goods and possessing the proceeds of crimes and other associated charges are expected to be laid."

Detective Senior Constable Potter said the man was remanded in custody to appear in the Geelong Magistrates Court.

He said Colac police had seized a number of firearms, about eight, in the past three weeks.