Valerie Bradshaw, 29, was found by a Utah Highway Patrol dive team at about 7:12 p.m. in water about 340 feet deep.
The team used a robot to recover Bradshaw's body, according to police. The corpse was taken to the Wahweep Marina and later to the medical investigator at the Kane County Sheriff's Office.
The Utah Highway Patrol dive team decided to call off the investigation for the night and said they would continue to look for the other missing victim -- who has been identified as 22-year-old Jessica Jackman -- around the same area on Monday morning.
"This is what they do," Kane County Sheriff's Sgt. Alan Alldredge said of the search crews, before Bradshaw's body was found. "They’re really good at it, they’ll keep looking and they don’t generally give up. They’ll keep looking until they find them."