More than 150 police, Land Search and Rescue personnel, firefighters, other volunteers, along with family and friends joined in the search.
Searchers found Fletcher's body at around 4pm New Year's Eve afternoon in a drain, under some trees, alongside Back Ormond Road just west of Snowsill Road, not far from the 'T' intersection with State Highway 2.
Police cordoned off the immediate area around where he was found and carried out a scene examination.
"A post mortem examination will be conducted to ascertain the exact cause of death," said Detective Senior Sergeant Kevin Ford.
"We will not be commenting further on the circumstances of Fletcher's death.
"The matter will be referred to the coroner."
Fletcher's mother and father, along with his brother (17) and sister (15), have been in Gisborne since Tuesday.
His father Steve said the family wish to pass on their "heartfelt thanks" to everyone who helped find their loved one, including police, the search and rescue people, Fletcher's friends and the other volunteers.
He also extended the family's thanks to Victim Support who have been working with them since the tragic outcome.
"They appreciate hugely everything that the Gisborne community has done for them," said Vicki Crosswell from Victim Support.
"They have been shocked by what has happened and are working through the process of their loss.
"They will stay in Gisborne until Fletcher's body has been released to them."
About 50 people, many of them Fletcher's friends, joined the family for a gathering at a residence at Wainui on New Year's day to talk through the loss.
"We understand there may be other people who have been affected by this tragedy and if any of them need to talk to someone about it we ask them to call 0800 842846," Vicki Crosswell said.
Fletcher Wong was a student at Otago University.
Police have thanked Rhythm and Vines management and staff, who provided significant support and assistance to them during the search.
"Additionally, we would like to acknowledge the police staff and LandSAR volunteers for their hard work over the time Fletcher was missing," police said.
"We extend our condolences to Fletcher's family."
Search spokesman Sergeant Greg Lexmond said it was good they were able to find the missing teenager and return him to his family.
"But we were hoping for a better outcome, and our thoughts go out to his family at this terrible time.
"We can only image how they are feeling."
