We set up a tunneling approach to the analogue Hawking effect in the case of models of analogue gravity which are affected by dispersive effects. An effective Schroedinger-like equation for the basic scattering phenomenon IN->P+N*, where IN is the incident mode, P is the positive norm reflected mode, and N* is the negative norm one, signalling particle creation, is derived, aimed to an approximate description of the phenomenon. Horizons and barrier penetration play manifestly a key-role in giving rise to pair-creation. The non-dispersive limit is also correctly recovered. Drawbacks of the model are also pointed out and a possible solution ad hoc is suggested.