Body washed up near Raglan was missing fisherman Olson Canatoy

Olson Canatoy and Eric Dabalos have been missing since October 31. Photo / NZ Police

The body found at Waikato's notorious Papanui Point at the weekend was missing fisherman Olson Canatoy.

Canatoy, 52, and Eric Dabalos, 44, failed to return from a fishing trip at the notorious Ruapuke area on October 31.

On Sunday, a body was located on rocks at the northern end of Ruapuke Beach around 2.20pm. A member of the public located the body and notified police.

In a statement today, police confirmed it was Canatoy after completing a formal identification process

"Our thoughts are with his family and loved ones at this difficult time," the statement said.

The men are from the Philippines and their families are overseas.

The fishermen did not return from a fishing trip at Papanui Point near Ruapuke Beach at the end of last month. Photo / Belinda Feek

Canatoy's wife Lanie told the Herald yesterday they were still unsure whether it was either of the men and hoped police were still searching for them. They were both keen fishermen.

They were first reported missing about 11pm on October 31 and a search and rescue operation was launched.

At the time, police used a drone and the police Eagle helicopter but searchers found no sign of the pair.