Divers found 30 year old Jerry Dean "JD" Lee about 4:30 Tuesday afternoon, in the same area where he disappeared.
Authorities say Lee was free diving for sand dollars in about 35 feet of water behind Coral Reef Club condominiums, 2798 scenic highway 98 in Destin.
Witnesses say Lee got off the jet ski, dove underwater, but never resurfaced.
Members of the Okaloosa, Walton and Santa Rosa County Sheriff's Offices, the Coast Guard and the Fish and Wildlife Conservation Commission recovered the Jet Ski Monday afternoon.
But again, they didn't find Lee's body until Tuesday.
The case is still under investigation.