Police seized R5 million worth of abalone on Wednesday morning. PHOTO: Supplied by SAPS

Abalone worth R5 million was recovered in Gordon's Bay outside Cape Town in the early hours of Wednesday morning after a high-speed chase, police said in a statement.

Police received a tip-off that a vehicle transporting the abalone was on its way to the harbour town of Gordon's Bay.

Police spokesperson Sergeant Noloyiso Rwexana said when the driver of the vehicle realised he had been spotted, a high-speed chase ensued.

"The vehicle, a white Toyota Verso was spotted on the R44, and upon noticing police presence, the driver made a U-turn and fled. Following a high-speed pursuit, the driver abandoned the vehicle and fled on foot." 

Rwexana said 8,330 shelled abalone were discovered in the car.

Police are still searching for the suspect.