Police believe Alison Fox got lost in the Ochil Hills near Menstrie after heading out on Thursday afternoon.
Search teams have been checking the area but no trace has been found of the 51-year-old from Alloa.
Officers say they do not want members of the public to join the search as snow and high winds continue to hit Scotland but have appealed for any sightings or information.
Ms Fox is white, about 5ft 2ins and slim, with short red hair and thick glasses.
She speaks with an English accent and is said to be a keen hill walker.
Inspector Jim Young said: “The adverse weather on the hills makes us very concerned for Alison’s welfare and we are keen to trace her as soon as possible.
“I must stress that I do not want members of the public to come out and assist with the search due to the weather conditions but if you have any relevant information that can help us establish Alison’s whereabouts please contact the police immediately. “