The NYPD's harbor unit was responding to the area for an unrelated report and found the body on the rocks underneath the bridge.
They are working to identify the body to determine if it is Paige Aiello, the women's tennis team captain at the College of New Jersey who was reported missing by her parents April 10 after her cell phone and wallet were found on the bridge.
The 22-year-old Aiello had last been seen April 9, when her parents said she attended classes at TCNJ, then returned home and drove off in her mother's Audi, authorities have said.
The Audi was found in a parking garage near the train station in New Brunswick.
According to TCNJ's athletics website, Aiello studied communication at the school.
Authorities searched the Hudson River immediately after her belongings were found on the bridge, but found nothing.