Skydive Lake Wanaka Ltd director David Hall (58) died at the weekend.
Constable Phill Hamlin said police were contacted about 2pm on Saturday after Mr Hall, of Wanaka, failed to make a 10am appointment in Queenstown.
An extensive land and air search was carried out and his vehicle was found near the Crown Range Rd on the Crown Terrace, above the stretch of road known as the "Zig Zags".
The search continued until midnight and was resumed at dawn the following day.
About 9.20am on Sunday, a search team found Mr Hall's body near the area in which his car was found.
There were no suspicious circumstances surrounding the death and the matter had been referred to the coroner, Const Hamlin said.