Police were called to the popular beauty spot sometime before 07:00 after it was reported to the authorities that the body of a male had washed ashore.
Officers cordoned off Hanover Point car park and the surrounding areas whilst they investigated the discovery. The car park was re-opened by 08:15.
Although formal identification is yet to take place, the family of a missing pensioner have been informed.
The death is not being treated as suspicious and a file is being prepared for the coroner.
A large scale search operation was launched on Thursday night when a vehicle belonging to a missing individual was discovered near the clifftops at Freshwater. Despite 2 helicopters, 2 lifeboats, 2 Coastguard Rescue Teams, WightSAR volunteers and Police all searching, nothing was found.
The search continued across the weekend but has now concluded with the discovery of the unnamed male’s body.