Detectives are investigating a shooting near Cohuna on Sunday, February 16.
Police allege a 65-year-old man was shot outside a property near Box Bridge around 2.40pm following a dispute between two people believed to be known to each other.
The man was taken to hospital before being airlifted to Melbourne with serious injuries.
He is currently in a serious but stable condition at The Alfred.
Police arrested a 65-year-old Cohuna man nearby. Armed Crime Squad detectives are looking into the incident.
Anyone with information is urged to call Crime Stoppers on 1800 333 000 or submit a report online through crimestoppersvic.com.au/report-a-crime/