An alleged jewel thief who used a fishing rod to land a designer necklace from a high-end Melbourne store has himself been reeled in by police.

Officers arrested the 43-year-old at a Melton West property on Wednesday morning.

The underhanded angler is in custody and expected to be charged with theft and burglary-related offences.

CCTV footage showed the man spent about three hours trying to snag the $700 Versace necklace in the middle of the night on Little Collins Street on February 24.

Victoria Police had previously shared CCTV video of the thief’s unusual fishing expedition on social media.

“It’s fairly blatant and quite bold as well, to have someone with a fishing rod in the middle of the night in the city. It’s very unusual,” Detective Senior Constable Bede Whitty said at the time.

-with AAP