Police were contacted on Friday morning by a member of the public who had found the body in the vicinity of Hartley Wood to the east of Micklefield.
It is believed to be Ian Collinson, who went missing from the village on August 23.
Detective Inspector Phil Jackson, of Leeds District CID, said: “Although formal identification is yet to be carried out, it is believed to be the body of 73-year-old Ian Collinson.
“His family have been informed and we have specially-trained officers supporting them at what will clearly be a very difficult time for them.
“There are no suspicious circumstances and the Coroner’s office has been informed.”