Alistair Wishart, 74, was last seen within John Jamieson Close in Lerwick on Sunday.
A spokesman for Police Scotland said today: “In the search for the missing man in Lerwick, Police can confirm that the body of a man has been found in the area this afternoon. The family of the missing man have been informed but formal identification is still to take place.”
He added: “Enquiries are ongoing into the circumstances surrounding the man’s death and a report will be submitted to the Procurator Fiscal. No further details are available.”