Police confirmed that the body of a woman was found in the water near Herolds Bay on Saturday afternoon.
Police spokesperson Captain Malcolm Pojie said a resident saw the body floating in the ocean and alerted authorities.
He said an autopsy will be done and the identity of the body must still be confirmed.
"We do however have a strong suspicion that it might be the body of the missing Heidi Scheepers but it must be confirmed," he said.
The 35-year-old mother was reported missing this week with her two children, aged six and two after they were last seen at Herolds Bay beach on Tuesday evening.
The body of the little boy has already been recovered from the sea at Voelklip near Herolds Bay after parts of the wreckage of Scheepers' VW Combi were found at the bottom of a cliff.
