The victim was from the Gimli, Manitoba, area, but his name had not been released, the Canadian Broadcasting Corp. reported.
The Winnipeg Free Press reported the man had departed on his flight to a remote cottage about 11 a.m. and authorities were alerted he had not arrived at his destination about 11 p.m. The Royal Canadian Mounted Police said searchers found the plane about 2:30 a.m.
"It was located upside-down in the water, and at this point it appears there is one adult male deceased inside the aircraft," Cpl. Miles Hiebert told CBC News.
Police said no one else was reported to have been inside the plane when it crashed.
Mena Suvari shares her delightfully awkward Christmas card photo
Couple calls 9-1-1 over missing hash browns; assault McDonanld's employees