Cyril Kubala, 86, and his wife Margaret, 82, from Gore, failed to return from a Sunday drive yesterday, after setting out around 4pm.
Search teams scoured roads in the district, but the search was stood down after a crash scene was discovered on Lora Gorge Rd, Hokonui, around 8am today.
One vehicle was involved, and both occupants were found dead at the scene, police said.
They have now confirmed the couple were Mr and Mrs Kubala.
The Kubalas were "an incredibly well-known family" in the region, Gore District mayor Tracy Hicks said.
"I know there will certainly be a lot of the Gore community touched by this tragedy, and there will be a lot of rallying around and supporting the family through the challenge that's ahead of them," he said.
The couple lived in Croydon, near Gore, and farmed in the area all their lives.
"They are very strong members of that community," Mr Hicks said.
People in the community were "surprised and shocked" to hear of the tragedy, he said.
The couple were "absolutely up there and enjoying life", Mr Hicks said, despite being in their 80s, "and to finish it in that way is not what any of us want for anyone".
