The submerged boat was also found following an extensive land and sea search, which has now been terminated.
On Tuesday evening, Stornoway Coastguard received a report of an overdue boat which set off from the Brevig Pier at 7am that morning.
A major search and rescue operation was carried out utilising Stornoway RNLI Lifeboat, Coastguard Rescue Teams from Stornoway, Ness, South Lochs, Miavaig, Tarbert, Bragar, Breasclete, Coastguard Helicopter R948, Hebrides Search and Rescue and Police Scotland.
The search was stood down overnight on Tuesday and resumed by all units yesterday morning.
At 08.50am, the missing boat was found submerged by Stornoway RNLI off the area of Point, Isle of Lewis.
A Maritime and Coastguard Agency spokesman said: ‘The body of a man has sadly been recovered not far from where the boat was located.
‘The man’s next of kin have been informed of the circumstances.
‘Our thoughts are with his family. No further details regarding his identity will be release at this stage. Enquiries are ongoing into this matter and a report will be submitted to the Procurator Fiscal.’