Police divers and NSW Surf Life Saving have recovered the body of a 37-year-old man at Crescent Head, north of Port Macquarie.
At around 12.15pm on May 17, divers located the body submerged in the ocean near Pebbly Beach.
The Kempsey man was last seen on Wednesday afternoon at around 4.30pm.
Police were made aware of concerns for his whereabouts at 4pm on Thursday afternoon.
A large-scale search began involving police, water police, PolAir, SES, Surf Life Saving, the Westpac Rescue Helicopter and Marine Rescue.
Police believe the man was rock fishing when he fell from a rock ledge into the ocean.
It's believed the man was not wearing a life jacket.
Inspector Stuart Campbell said police are offering their support to the family.
"The family is very distraught and we will be working to provide comfort for them," he said.
A report will be prepared for the coroner.