The NYPD harbor police discovered Aiello's body Wednesday on rocks near 158th Street.
A police spokesman says the body was identified Thursday through dental records.
Aiello was last seen at her family's home in Hillsborough on April 9. The 22-year-old College of New Jersey senior apparently took her mother's car without permission.
The car was found the next day in New Brunswick parked near a train station. A passer-by reported finding Aiello's purse, cellphone and car keys on the south walkway of the George Washington Bridge.
Police spotted the decomposed body while searching for a possible jumper in the Hudson River.
There was no immediate word on the cause or circumstances of Aiello's death.
The following post was posted on the Find Paige Aiello Facebook page.
"It is with a heavy heart that we report to you that the body recovered yesterday is that of Paige. We want to thank each and every one of you for never giving up hope and continuing to help try and find Paige. At this time, we ask for your continued prayers and support for Paige's family, friends and community during this most difficult time. Thank you".