The incident took place at the intersection of Lavers Hill-Cobden Road and Old Cobden-Port Campbell Road about 10.30am.

Ambulance Victoria said a 33-year-old Cobden man was airlifted to The Royal Melbourne Hospital in "what's believed to be a stable condition with upper body injuries".

Warrnambool Highway Patrol Acting Sergeant Uwe Stolzenberg said the tanker was coming up the hill at the intersection when it tipped over as it went around the corner.

"He left the road from the bitumen into the grass and rolled one-and-a-half times," Acting Sergeant Stolzenberg said.

He said police will speak to the driver upon his release from hospital.

Acting Sergeant Stolzenberg said the crash resulted in a loss of 26,000 litres of milk valued at between $15,000-17,000.

He said the vehicle was a write off and was removed from the scene by heavy haulage.

Acting Sergeant Stolzenberg said the Environment Protection Authority attended the scene.

Corangamite Shire Council closed Old Cobden-Port Campbell Road while emergency services attended to the scene, reopening several hours later.

Camperdown SES unit controller Michael Carman said upon arrival the SES found one person trapped in the cabin.

"We worked along with the Cobden SES unit, Cobden CFA and the ambos to extract the person," Mr Carman said.

The CFA assisted the SES in extricating the driver from the vehicle.

IN OTHER NEWS

It comes after a milk tanker driver avoided a collision scene at Tarrone on Friday night.

In September, The Standard reported emergency services were attending a truck collision every eight days across the south-west.

South-west road safety adviser Senior Sergeant Matt Wheeler said concerningly there'd been about 30 collisions involving trucks since January 1.

Of those collisions, 31 per cent resulted in serious injuries and 10 per cent involved lives being lost.

In 42 per cent of the collisions the truck driver was at fault and police laid charges including careless driving, impaired driving, failing to give way and failing to leave sufficient distance when following another vehicle.

Now just one tap with our new app: Digital subscribers now have the convenience of faster news, right at your fingertips with The Standard:

Have you signed up to The Standard's daily newsletter and breaking news emails? You can register below and make sure you are up to date with everything that's happening in the south-west.