The body of the mystery man could be that of a man in his 50s who has been missing from Glencolmcille since last Wednesday.
Gardai made the gruesome discovery as they searched for a missing OAP in Killybegs Harbour.
The 87 year old man had been missing from Killybegs Community Hospital since 11am this morning but his body has now also been found around 4.30pm – just one hundred yards from the first body.
The man suffered from dementia and Gardai had appealed to anybody who may see an elderly man in a confused state to contact them.
Meanwhile tests are ongoing on the body of the body found to determine if it is the man missing rom Glencolmcille.
The body has been taken to Letterkenny General Hospital.
The search for the missing OAP had involved a number of local rescue teams as well as the Coastguard helicopter.
Gardai say foul play in not suspected in either case.