Police received a report of two men in distress in the water at the Ben Lawers Dam, Lochan na Lairige, near Killin, on Friday night.
Emergency services attended and a man was treated by ambulance crews at the scene.
Police said the body of a 38-year-old man was recovered around 12:30 p.m. Sunday.
The family of the deceased is aware, police added.
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A policeman Scotland The spokesperson said: “At around 6:25pm on Friday May 19, 2023, we received a report of two men in distress in the water at Ben Lawers Dam, Lochan na Lairige, near Killin.
“Emergency services attended and a man was treated by the Scottish Ambulance Service at the scene.
“The body of a 38-year-old man was recovered at around 12:30 p.m. on Sunday, May 21, 2023. His family is aware.”