The discovery, which was made yesterday afternoon at Lock 16 near Camelon’s Union Inn, prompted an immediate response from emergency service crews.
Police sealed off the area for a number of hours as specialist rescue personnel used a dingy to search the body of water.
It’s thought the car was discovered by a member of the public who had gone swimming in the canal.
The vehicle is believed to have been submerged for some time, however, the matter was first flagged up to emergency services on Wednesday.
A Police Scotland spokesman said: “We received a report of a car in the water at Lock 16 in Camelon around 1.40pm on Wednesday, July 21.
“Officers and emergency services partners carried out a search of the vehicle in the water and the surrounding area with no trace of anyone.
“The vehicle has been recovered from the water.”