The man was reported first missing about 12pm on Tuesday, with emergency services quickly commencing a search of the area near the Murrumbidgee River and Shepherds Lookout, just outside Strathnairn.
Search crews discovered the man's body near the lookout about 7.20pm.
Police are investigating the circumstances of the incident and have not specified whether the incident was being treated as suspicious or not.
Anyone who may have been in the vicinity of Shepherds Lookout between 11am Monday, 12 February and 3pm, Tuesday 13 February are urged to come forward.
Anyone with information that could assist police is urged to contact Crime Stoppers on 1800 333 000, or via the Crime Stoppers ACT website.
