Officials with the Joint Rescue Coordination Centre say a canoe with two paddlers overturned in the Ten Mile Point area just before 11 p.m. PT Friday.
One man was rescued from one of the islets off of Oak Bay just after midnight. He was taken to Royal Jubilee Hospital for treatment of hypothermia.
The second man has not been found, and rescue crews say the file has been turned over to police.
Officials say the two Saanich residents, believed to be in their 20s, were on their way to camp on Discovery Island. The men were not wearing life jackets.