Xiang "Billy" He, 38, of Locust Avenue, was last seen on Tuesday around 1:00 p.m. at the boat ramp on River Road in the Torresdale Manor section of the township.
He was reported missing at 10:00 a.m. Wednesday.
The 38-year-old was last seen Tuesday putting his red kayak in the water and maneuvering it to his sailboat off the Delaware banks.
In a new release issued Thursday morning, Bensalem Police said that He's missing kayak was found by a resident of Delanco, New Jersey.
Police also added He is "now believed to have perished in the Delaware River." Rescuers spent hours looking for He on Wednesday.
Investigators say He went shopping before coming to the Delaware and some of the purchased items were found on his sailboat.
"We surmise, at this point, that he made it to the boat, but we don't know if he made it back to land. His vehicle was here," Sgt. Andy Aninsman of the Bensalem Police Department said.
Police say He was a novice at boating and only recently moved to the Bensalem area.
Neighbors watched as the search was conducted from the water and air. They say he's a great father and was often seen playing with his young son.
"He has a son, really nice guy. He's very polite," neighbor A.J. Hedgepeth said.
The search was called off at sunset Wednesday.
Anyone with information is asked to contact the Bensalem Police Department at 215-633-3719.