Officers, Meaford Fire, and Grey County Paramedics arrived on the scene just before 2 pm and removed the person from the water.
Life-saving measures were unsuccessful and they were pronounced deceased.
The victim has been identified as 51-year-old Dzenad Icagic of Etobicoke.
The Grey Bruce OPP says the investigation continues to find out the circumstances surrounding the death, which is not considered suspicious.