It is believed the woman who was found at Anzac Bay near Waihi Beach earlier today is a 76-year-old from Morrinsville who was swimming with a friend when she collapsed in the water.
Attempts made by by-standers to revive her were unsuccessful.
Members of the Waihi mine rescue team, who were at the beach searching for the missing boatie, assisted in removing the woman from the beach.
It is not yet known how she died.
Conditions at the beach were calm and shallow as the tide was going out.
The body of a woman has been found at Waihi Beach this afternoon.
Hauraki Senior Sergeant Rex Knight said a woman's body had been found at Anzac Bay about 2.20pm today.
The incident is completely unrelated to the search for the 52-year-old Katikati man who has been missing since his boat capsized last night, Mr Knight said.
"We've got staff there at the moment. We think she's drowned," he said. "The sea's been really big."
Mr Knight said police did not yet know who the woman was.
Anzac Bay is just inside the harbour entrance at the south end of Waihi Beach.
The woman's body was found on the beach by a member of the public.
Ambulance staff attended the scene but the woman, believed to be aged about 77-years-old, was unable to be resolved.
Police are currently not treating the death as suspicious and the matter has been reported to the Coroner.