Darren Myers, 49, was due to complete a hike in the Tararua Range outside the country's capital Wellington on June 1, but failed to arrive at his planned destination.
A body was spotted during an aerial search Wednesday of the area where he went missing, New Zealand Police said in a statement.
Search and rescue teams are on their way to the site, but police said it is likely to take some time for them to reach the location.
Myers is a British citizen, although he lives in Wellington.
Dozens of people joined the search for Myers, although efforts were hampered by poor weather conditions, including gales and snow in some areas. The region where he went missing has also been blanketed in cloud, which limited aerial searches.
The Tararua Range is a popular hiking area in New Zealand, especially for those living in Wellington. Surveys suggest between 120,000 and 150,000 people visit the area each year, making it one of the most frequented alpine areas in the country.
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