Grey County OPP were actively searching for a missing male in Owen Sound Harbour on Monday morning.
An underwater search and recovery unit was searching the harbour.
At 10:16 a.m., a deceased body was found.
Family confirmed the identity as 27-year-old Derick Henry, but police have not officially announced as much.
Henry was on a fishing trip on the bay when one of three dogs on-board jumped from the boat.
The dog was struggling in the water, which is when Henry jumped in after it. The dog did survive.
Family said Henry was a good swimmer.
A friend and his mother both attempted to rescue the man, but he disappeared underwater.
Boaters in the area said there was a brisk wind that made the bay choppy, with waves up to one metre high.
Police were called around 5:20 p.m. on Aug. 18.
The investigation is ongoing.