Frankston Crime Investigation Unit detectives have arrested a man and are on the hunt for two more after an aggravated burglary in Carrum Downs on Christmas Eve.
It's alleged three offenders armed with a knife entered a residence on O'Gradys Road about 6am, Tuesday, 24 December.
The group encountered an occupant of the home and made demands for car keys which were used to steal a 2010 Holden Berlina station wagon.
Detectives acted swiftly in their investigation, arresting a 26-year-old Langwarrin man just after 9am.
A 32-year-old Carrum Downs man has also since been arrested and both men will be interviewed.
The vehicle was recovered at an address in Carrum Downs this morning and investigations into the incident remain ongoing.
"Rest assured, police are committed to holding these offenders to account," Senior Constable Joel Warren said.
"We are keen to hear from any members of the public that may be able to assist and I would strongly urge those involved in this offending to hand themselves in."
Anyone who witnessed the incident, has CCTV, dashcam or any other information that could assist police is urged to contact Crime Stoppers on 1800 333 000 or submit a confidential report online at www.crimestoppersvic.com.au