Emergency services launched a search and rescue operation for the 24-year-old last night after he separated from a walking companion.
A police spokeswoman said search teams located the man's body this afternoon.
He first went missing yesterday afternoon and after the search was postponed last night, it continued from first light today.
Earlier, the police spokeswoman said four Search and Rescue teams, as well as a helicopter from the West Coast, searched for the man.
She said the man appeared to have been dressed for a short walk, not as if he was equipped to be out overnight.
He was last seen on the Bealey Spur Track - the Department of Conservation describes the track as six kilometres long and taking two hours and 30 minutes one-way.
Located around 1200m above sea level, the Bealey Spur Hut houses six bunk beds and is open access.
The track to the Bealey Spur Hut starts from the car park off State Highway 73, just past the Bealey Hotel near the Arthur's Pass village.
According to DOC, the track appeals to walkers because it is more gradual than most alpine tracks around the village and does not climb above the bush line.
