The 81-year-old who suffers from Alzheimer's has been living on the island with his wife, Vicky, for more than twenty years.
Police teams were focusing the search around his home outside the resort of Andratx but said they were very worried that he was lost somewhere in the heat.
"It is more than 35 C outside today and he hasn't been seen," a spokesman from the police told The Local. "We are searching the town and knocking on doors but are also extending the search into the mountains around here, in case he wondered up there."
Around 12 officers from different police forces had joined in the search.
"We are very worried about him because he is lost somewhere out there in extremely hot weather," said the police spokesman who added that Noakes was wearing blue shorts and white and blue shirt.
His wife raised the alarm after he disappeared near their home just after 9am.
"I did see him immediately after he left and was following him in the car to pick him up," she told The Mirror newspaper.
"But I couldn't stop and went down a side street to park and when I went back to the main road he'd disappeared.
"It's one kilometre from the end of the driveway towards the outskirts of Andratx and I saw him about halfway between the two," she said.
The town hall of Andratx issued his photo along with an appeal for information on their facebook page.
Noakes is known to a generation of Blue Peter viewers as the owner of black and white Border Collie, Shep.
He remains one of the show's longest-running presenter after spending more than 12 years on the show during the sixties and seventies.