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Allison 'Ally' Willen, a university student from Akron, Ohio, was last seen on the Gillespie Pass track last Saturday.
The 20-year-old's body was found by Land SAR teams in the Young Valley, near Wanaka, today, Search Coordinator Sergeant Aaron Nicholson said.
The search had resumed today after heavy rain forced a suspension midweek.
''We had waited for three days after our initial search effort for the water levels in the Young Valley to recede to an optimum searching level,'' Sgt Nicholson said.
''Today 20 specialist Land and Marine SAR teams including Coastguard were involved in the search for Ally.
''She was found in the river by one of the Wanaka Land SAR River Rescue teams just before lunchtime, high up in the Young Valley near where her backpack and rain coat was located earlier in the week."
Sgt Nicholson said he was very pleased to be able to provide some comfort and closure for the family.
He said the family had been advised and were very relieved to have Ally back.
The death has been referred to the Coroner.