An extensive search was launched for the 67-year-old Mosgiel woman when she went missing on Tuesday night.
Her body was found by two cyclists in a rural area close to Gladstone Road about halfway between Riccarton and Gladfield Roads at 8pm.
The site was about approximately 2km from the residence where she had last been seen.
Sergeant Kevin Davidson said the circumstances around Mrs Pantel's death were not suspicious and the matter has now been referred to the coroner.
Police thanked all those who participated in the intensive search for Mrs Pantel over the past few days, particularly the volunteer searchers.
"Searchers have put in 100% effort into finding Mrs Pantel and I would sincerely like to thank them for their commitment over the past few days," said Sergeant Kevin Davidson of Mosgiel police.
