The crew have been scrambled to support police dealing with an incident close to the Metropole Hotel on the Promenade.
Officers were called at around 9.30am today by a member of the public concerned for the safety of a man.
A Lancashire Police spokesman initially said the man was not in the sea but Coastguard and the RNLI had been asked to assist.
Lytham Coastguard said the man had been located.
He had been in the water but was led to safety and handed over to waiting police officers while the lifeboat stood by.
Coastguard described the man as ‘despondent’