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That discovery was announced at an early evening news conference with Hunterdon County Prosecutor Anthony Kearns.
The body was found around 5:00 p.m. in the Delaware and Raritan Canal.
While Kearns said he could not positively say the body was that of Majoras, he said the body matches her description and they have notified her family members.
There was no immediate word on Majoras' cause of death.
The news conference was called a short time after it was learned search crews found a boot that matched the description one worn by Majoras, who hasn't been seen since early Saturday morning.
Kearns said earlier in the day that while investigators did not have any indication of foul play, but nothing has been ruled out.
"While we have no substantial evidence of foul play, our minds remain open, we are looking at all possibilities, and we continue to pursue any information we can in an attempt to make sense of what might have happened," Kearns said.
Investigators say Majoras was at John & Peter's Bar & Restaurant in New Hope, Pa. on Friday night into early Saturday morning.
Police say she left at 2:00 a.m. Saturday to head across the bridge to her home in Lambertville, New Jersey.
Majoras was spotted on nearby surveillance cameras walking into New Jersey wearing a green camouflage jacket, a white knit hat, and glasses.
Majoras was reported missing by her live-in boyfriend on Saturday afternoon.
