Is this Alaska's Loch Ness Monster?

Lake monsters, sea serpents — for generations, locals have passed down legends of mythical beasts that haunt their waterways. Evidence is usually based on a grainy photograph or a thirdhand retelling of a deceased relative's firsthand account. But this time, we have video footage — or so the Discovery Channel claims.

The 2009 video, which premiered Tuesday night during the Discovery Channel's "Alaskan Monster Hunt," appears to show a long creature undulating up and down along the surface of the water in Alaska's Bristol Bay.

"These are large animals, there's a whole family of them, it's swimming up and down, it's probably propelling itself by the flap of its tail," scientist Paul Leblond said while viewing the footage shot by fishermen. "That looks like Cadborosaurus, the sea monster that people see on the coast of B.C., Washington State, all the way up in Alaska."

Cadborosaurus sightings have been reported for years, according to Discovery News. "Caddy" is purported to be a giant sea serpent with a long neck, although many have speculated the creature could be a large eel or some kind of fish.

So, what do you think? Is this the Last Frontier's very own Nessie? Let us know in the comments.