The search for the body, in the river close to Kirkstall Road, was launched last night (Tuesday), after a 17-year-old man was seen entering the water at about 6.45pm.
A police helicopter, officers, paramedics and firefighters were all called to the scene.
The body was recovered from the water in the River Aire at about 1.30am today (Wednesday), according to a West Yorkshire Police spokeswoman.
"Enquiries are ongoing," she added.
At about 8.20pm last night, a tweet from the official Twitter account for NPAS, the force helicopter based at Carr Gate in Wakefield, confirmed it was assisting in the search after a man was seen entering the water.
The busy retail park is home to Vue cinema, Hollywood Bowl and a string of popular restaurants.
It is also close to Leeds Industrial Museum.