Police said the body was found ''in suspicious circumstances''.
They received a report of a body in the water below McLaren Falls Bridge on McLaren Falls Rd in Tauranga about 11.30am yesterday.
The body had not yet been identified and a forensic post mortem would take place today, police said.
The investigation was in its early stages and police would like to hear from anyone who saw suspicious activity on McLaren Falls Rd yesterday.
Tauranga Police 07 577 4300; Crimestoppers on 0800 555 111 if you have information.