UPDATED 12.05pm: The body of a man missing at McLaren Falls Park after an accident last night has been found.
Senior Sergeant Craig Madden said divers had found a body in the lake a short time ago.
The body found matched the description of the missing person, he said.
The man's family have been notified.
Earlier: Police searching for a man who tried saving the life of his friend at McLaren Falls Park yesterday have announced they are now in a "recovery phase".
Police divers remain at the scene this morning after a man playing with a friend swung out over the lake from a rope tied to a tree.
Senior Sergeant Craig Madden said it was believed the 25 year old, whose body was found last night, was unable to swim.
His 27-year-old friend, who was believed to have some swimming capability, dove in after him.
He remained missing despite search efforts, which were continuing today.
It was not known who put up the rope, which police have collected.
Mr Madden said ropes were often set up and used in the park for fun.
Tauranga City Council manager of parks and recreation Mark Smith said the council regularly had to cut down ropes tied to trees at the park.
"We cut down (ropes) probably a couple of times a year. Although we've never had this before.
"It's just a tragic incident," he said.