The Whangārei Boys’ High School student was swept away in the Abbey Caves near Whangārei after a group of 15 students and two adults got into difficulty amid heavy rain.
Police said a body had been recovered late on Tuesday evening, with formal identification still to take place.
“We acknowledge this event has been very distressing for the school and wider community, and that there are a number of questions the public will have,” police said.
The incident occurred as heavy rain and thunderstorms caused flash flooding and landslides across the upper North Island on Tuesday.