UPDATE: Wednesday 9.45am:
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Police have confirmed a 69-year-old man flown to the Alfred Hospital with serious burns after an altercation at Wheatsheaf has now died.
Officers said he passed away late on Tuesday night.
"It's alleged there was an altercation which resulted in which the victim being set alight," a police spokesperson said.
A 63-year-old Wheatsheaf man was arrested at the scene and interviewed by police.
He has been charged by Arson and Explosives Squad detectives with attempted murder, however it is expected this charge will be upgraded to murder this morning following the overnight death of the 69-year-old man.
The 63-year-old man will face Ballarat Magistrates' Court this morning.
EARLIER: 7.52pm
A man was airlifted to hospital with life-threatening injuries after allegedly being assaulted in Wheatsheaf, north-east of Daylesford on Tuesday.
Police said detectives from the arson and explosives squad and the Moorabool crime investigation unit were investigating the incident.
It was alleged the assault occurred after an altercation on Wallaby Road about 10.25am.
IN OTHER NEWS:
Police said that a 59-year-old Wheatsheaf man was arrested at the scene and was assisting them with their inquiries.
Anyone with information about the incident is urged to contact Crime Stoppers on 1800 333 000 or submit a confidential report online at www.crimestoppersvic.com.au
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