The 62 year-old was reported missing from her home in Aberdeen on Tuesday.
Inquiries are ongoing to confirm the identity, however the missing woman’s family have been informed of the development.
Inspector Steve McEwan, who has been leading the search operation, said: “I can confirm that a body was discovered in the River Dee area at around 10.30am this morning. A recovery operation was launched with assistance from the Police Scotland dive unit and RNLI inshore lifeboat.
“Formal identification has yet to take place, however the family of Moira has been updated and we are liaising closely with them.
“Further information will be released when available.”