Frederick Boyd was on leave at his home in Glasgow when he failed to return to Castle Huntly jail in Dundee on Tuesday.
The public have been warned not to approach Boyd and contact police if they see him.
Police said he was thought to have connections in the Clydebank, Knightswood and the Drumchapel areas of Glasgow.
He is described as being of medium build, clean shaven with short brown hair.
A 54-year-old prisoner has gone on the run from an open prison.