His body was recovered from the water at around 6pm at the beauty spot on the Harden Beck between Bingley and Cullingworth, near Bradford.
There are not thought to be any suspicious circumstances and a file has been sent to the coroner.
West Yorkshire Police have appealed to a group of men who tried to help the teenager to come forward and speak to them about the circumstances.
They have not revealed whether the boy was alone or accompanied when he entered the water.
Goit Stock became a notorious 'lockdown party' location last summer and there were issues with littering, with detritus such as beer bottles and inflatable toys abandoned at the waterfalls by groups of youths.
Emergency services regularly remind the public about the dangers of swimming in open water in hot weather. Most lakes, rivers and reservoirs in the UK remain cold throughout the year and the temperature can induce cold water shock, which can kill even strong swimmers quickly.