A four-year-old girl who went missing on the Tasman Peninsula has been found alive and well.

About 100 people have been involved in the frantic search for Shayla Phillips in southern Tasmania over the past three days.

She was found Friday afternoon in bushland near Halls Rd, hundreds of metres from where she went missing near Stormlea Rd on Wednesday, and on the other side of Cripps Creek.

Shayla has been taken to hospital for medical assessment after spending two nights in the remote area where temperatures dropped to 11 degrees.

She had been playing outside with dogs from a neighbouring property when she was last seen about 2.30pm on Wednesday, wearing pink leggings, a cream top, and gumboots.

When her mother went to check on her after about half an hour, Shayla and the dogs were gone.

One of the dogs was found about 7pm on Wednesday, 800 metres from where Shayla was last seen.

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Police did not believe there was anything suspicious about her disappearance.

Significant resources, including thermal imaging drones and sniffer dogs from Victoria Police, were involved in the search operation.

© AAP 2022

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