Police were called to Crown Lakes in Farcet, Peterborough, at 4pm on Thursday.
Search teams recovered a body just before midnight, Cambridgeshire Police said.
It’s believed the 16-year-old was swimming when he got into difficulty.
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A spokesperson from the force said: “While formal identification is yet to take place, it is believed to be that of the missing boy and his family have been notified.”
The case will now be handed to the coroner, they added.
