LandSAR volunteers located the body of Fletcher Wong (19) in the Ormond area of Gisborne.
The 19-year-old from Wellington was reported missing on Tuesday. He last seen walking out of the admissions area of the festival site at 2am that day.
Police said that at the time he was wearing a black Champion-branded hooded sweatshirt, grey Warehouse track pants, white Nike Air Force 1 shoes, and had a black iPhone 10 cellphone with him.
During the search efforts, Fire and Emergency New Zealand supplied a drone to help find him.
Meng Foon, former Gisborne mayor and current Race Relations Commissioner, posted on Facebook pleading for information.
Rhythm and Vines organisers said they were working closely with authorities.
Police said this evening: "Police would like to thank Rhythm & Vines management and staff, who provided significant support and assistance to Police during the search for Fletcher.
"Additionally police would like to acknowledge the Police and civilian LandSAR staff for their hard work over the last two days.
"The death will be referred to the Coroner."
Police extended their condolences to Wong's family and friends and is providing support.
