The man was pronounced dead at the scene after his body was recovered from the water at Penwortham Golf Club, near the River Ribble, shortly before 8am, said police.
The force said his death is not being treated as suspicious.
A police spokesman said: "We were called at shortly before 8am today (Friday, April 29) to a report the body of a man had been found in water off Fairway in Penwortham.
"Emergency services attended with the man, believed to be in his 70s, sadly pronounced dead at the scene.
"The death is not being treated as suspicious and a file will be passed to the coroner in due course."