TRAGEDY has forced the cancellation of remaining events at this year's Robinvale Euston 80 water ski race.

A 42-year-old skier suffered serious injuries after falling on the Murray River about 11am on Saturday.

Ambulance Victoria paramedics conducted CPR on the man, but he could not be revived.

Ski Racing Victoria cancelled remaining races for the weekend, and in a statement said their thoughts and prayers were with everyone involved.

"As a ski-racing community we are here to support the affected family and team members as well as the wider ski-racing community at this very sad time," the statement said.

Barrier Police District officers, with the assistance of Victoria Police, established a crime scene and began an investigation into the circumstances of the incident.

The man was yet to be formally identified and a report will be prepared for the Coroner.

It is the second water-ski competition fatality on the Murray River this year. A man in his 40s died from injuries sustained at the Southern 80 event in Moama in February.

More details to follow.