Archibald McGill, from Port Glasgow, was last seen at a bus stop in Kilmacolm Road in the Inverclyde town at around 5pm on Sunday.
The 64-year-old suffers from ill health and had never gone missing before, police said.
An appeal for information on the whereabouts of Mr McGill, known as Archie to friends and family, was made as concerns grew for his safety.
He has now been found and officers have thanked the public for their assistance.
A statement from Police Scotland said: "Mr McGill was traced safe and well in the Port Glasgow area earlier today.
"Media and the public are thanked for their assistance."