An elderly man has escaped death after falling from the platform of a suburban Melbourne train station into the path of an oncoming train.

The train driver hit the emergency brakes to stop the train just centimetres from the 88-year-old man who was lying injured on the tracks.

The incident at the Boronia station happened on Melbourne Cup day, November 5, with the footage emerging today.

Senior Sergeant Wayne Fielding told 7 News the train driver had done an extremely good job to stop the train before the man was seriously injured.

“Half a second later and the coroner may have been involved,” Mr Fielding said.