The search continues for a second pilot who was aboard when the training plane went missing Wednesday.
The Coast Guard said in a news release that the body was found Friday afternoon when a floating rig's crew reported something in the water.
The dead pilot was not identified, but the Navy has said 29-year-old Lt. John Joseph Houston, of Houston, and 30-year-old Lt. Bret Travis Miller, of East Troy, Wis., were on board.
Naval Air Station Corpus Christi lost contact with the Navy T-34C Turbomentor training plane Wednesday afternoon. The plane's last known location was near San Jose Island.