Search teams discovered the body in the Stob Dubh area of Glen Etive at around 2.30pm yesterday.
Northern Constabulary said no further details would be released until formal identification had taken place and next of kin were informed.
The hillwalker, in his 70s, had been missing since noon on Wednesday. He was believed to be walking alone and had with him a rucksack and survival kit. The alert was issued after he failed to return from his walk. The search was re-started at 8am yesterday with specialist dogs deployed.
Glencoe Mountain Rescue Team, Oban Mountain Rescue Team and RAF Leuchars Mountain Rescue Team also took part in the search.
The discovery follows the death of another Edinburgh man, whose body was recovered from a Munro in Argyll last Sunday. Rescue teams and a helicopter crew scoured Ben Cruachen before discovering the body of Alexander Sproule, 74, who was reported missing the previous day.