Aaron Burgess went missing while swimming in a stretch of the River Avon on the hottest day of the year so far.
Friends raised the alarmed when he disappeared under the water and didn't resurface.
Emergency services were called to a stretch of the river behind the Jolly Sailor pub in Saltford, between Bath and Bristol, at around 5.40pm yesterday.
Aaron's body was found by rescue workers at 11.30pm last night after a wide-scale search.
Police have warned youngsters using the river during the hot weather about the potential dangers they face.
A floral tribute left at the scene by the teenager's dad read: "My beautiful 1st born son, always acting the fool, chip off the old block, missing you loads, see you when I get there, Dad x"
A spokesman for Avon and and Somerset Constabulary said: "We can confirm that the body of a 14-year-old body was discovered by divers at around 11.30pm last night. "His next of kin have been informed."