Emergency services were called out after reports of a fully clothed man walking towards the sea.
Morecambe's volunteer RNLI lifeboat got the call at 5.25pm on Friday afternoon after HM Coastguard requested for its assistance in the ongoing situation.
Lifeboat personnel said the man was "believed to be in low mood" and "reported to have been seen entering the water, fully clothed, in the vicinity of Victoria Parade".
A lifeboat spokesman added: "The inshore lifeboat and inshore rescue hovercraft were quickly launched onto the receding tide and proceeded to conduct a search of the immediate and surrounding areas for the man; supported by police officers and local coastguards, searching from the shore."
The search was called off by Coastguard Command at approximately 5.45pm, when it was confirmed that the man in question had been seen leaving the water and heading inland on foot.
Both craft then returned to station.