The man, who authorities have not yet identified, was rescued along with his 24-year-old son, who survived, off Lavallette, the Asbury Park Press reported.
The circumstances surrounding the rescue, which happened around 11:30 a.m., were not immediately clear. Authorities have not yet disclosed their identities.
The Seaside Park Volunteer Company reported responding to at least six water rescue calls Monday, including the Lavallette incident.
The National Weather Service expects a high risk of rip current development to continue for Tuesday as dangerous swells from the distant Hurricane Paulette reach the coast.