The woman, 43, a visitor to Lake Macquarie, was fully clothed but not wearing a life jacket.

Lifeguards from Frazer Beach had finished their patrol for the day when they received an urgent call for assistance from the State Operations Centre around 5.15pm.

Police and paramedics also rushed to the scene.

Lifeguards on a jet ski quickly headed in the direction of an angel ring that had been thrown into the water by onlookers in their efforts to save the woman.

After several minutes of searching lifeguards located the unconscious woman and transported her to shore.

CPR was performed but the woman could not be revived.

Surf Life Saving NSW chief executive Steven Pearce said there was a king low tide in effect at the time of the incident, which meant more of the rocks were exposed than usual.

There was a medium sized swell described as “choppy”.

Mr Pearce said the tragic incident was a sad reminder of how dangerous the ocean could be. 

He also praised the professionalism of the responding lifeguards.

“The incident happening so late in the day highlights why it is so important to be at a patrolled location, especially if it is an unfamiliar environment that you only visit while on holidays,” he said.

“I would also like to acknowledge the efforts of the lifeguards who immediately switched their focus to rescue mode and conducted a highly professional operation under very challenging circumstances.

“I wish to extend our deepest sympathies to the woman’s family and friends at this difficult time.”

The incident was the second drowning in the Munmorah Conservation Area in three days after a young man lost his life at Frazer Beach on New Year’s Eve.

The man, 30, had been swimming with his brother when he was caught in a rip and drowned.

Police, meanwhile, will prepare a report for the coroner following the woman’s death.

Officers from Tuggerah Lakes Local Area Command are continuing their inquiries.

Since 2008, 17 lives have been lost on the rocky three-kilometre coastal stretch from Flat Rock, south of Catherine Hill Bay, to Wybung Head.

Central Coast councillor Greg Best, a keen surfer, said injuries he sustained on a rock platform had reaffirmed his view that life jackets should be mandatory for rock fishers.

“I’ve been washed off rocks while surfing, and that was catastrophic even though I was wearing a wetsuit and was prepared to go into the water, so I can only imagine what it’s like for a rock fisherman who is fully clothed and holding a fishing rod,” he told the Lakes Mail last year.

“Lifesavers have never pulled a dead person out of the water who was wearing a life jacket. What does that tell you?”