Raymond McCourt, 59, was reported missing from HMP Castle Huntly at 5.30pm on Tuesday.
He is described as 6ft 2in, stocky, with short grey hair and a beard and has reduced mobility.
He was last known to be wearing a long black trench coat, grey dress trousers, a grey waistcoat, a blue shirt with a red and white tie and brown shoes.
He was released in 2015 but returned to prison after being convicted for theft.
Anyone wishing to provide information anonymously can do so through the charity Crimestoppers on 0800 555 111.
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