The body was found by divers in the River Viskan in the Sjöbo area of the town. The find was made on Monday night by police searching with dogs.
The area had previously been searched by divers, dredgers and by dogs, following the disappearance of a man from a nearby clubhouse in December.
“An autopsy will now be performed on the body and it will be identified. Until then, we have no theories about who it might be, said Agneta Alkner of Borås Police to news agency TT.