Lynn Tyeson (48) was last seen at about 3am on Sunday in the Whitesands area of Dumfries.
A major search was launched and on Wednesday afternoon officers were alerted by a member of the public to a body in the River Nith, south of Kingholm Quay.
A Police Scotland statement said: “Officers assisted by the Coastguard and Nith Inshore Rescue staff have recovered the body, which has still to be identified.”
“The family of Lynn Tyeson are aware of this development.”
Police divers had been assisting the search for Ms Tyeson, who had been out with friends on Saturday night.