A major search was launched for Alasdair McVicar, 19, who was last seen at 2.40am on Wednesday on Argyll Street, Dunoon, Argyll and Bute, by his friends when he said he was going home.
Coastguard and mountain rescue teams were involved in the search.
Police said that Mr McVicar’s body was found in the Locan area.
Chief Inspector Paul Robertson said: “It is with deep regret that we can confirm the recovery of Alasdair’s body and our thoughts are with his family and friends at this very difficult time.
“Our thanks go out to all partner agencies and members of the public for their efforts and assistance over the past two days.”