Homicide detectives are investigating whether an elderly man’s death was the result of an armed robbery gone wrong.

The 70-year-old east Ballarat resident was found dead inside his home on Wensleydale Dr at Alfredton on Monday.

WATCH THE VIDEO ABOVE: Body found in Ballarat home.

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He had been stabbed to death, 7NEWS understands.

Victoria Police initially said it responded to reports of a “disturbance” about 9am, but 7NEWS understands neighbours first called triple-0 after spotting a man acting suspiciously in the front yard of the resident’s home.

7NEWS understands the man allegedly smashed through the front window of the home, and that the 70-year-old man was killed during a confrontation inside.

A 30-year-old man who was at the scene when police arrived, went with detectives to be interviewed as part of the ongoing investigation.

He is believed to have arrived at the scene in his car, 7NEWS understands.

The road remains closed to traffic as investigations continue at the crime scene, and where members of the tight knit community were seen grieving throughout the day.

“The exact circumstances surrounding the man’s death are yet to be determined and investigations remain ongoing,” Victoria Police said earlier on Monday.

Anyone with relevant information is urged to contact Crime Stoppers.

— With Cassie Zervos