Molly O'Donovan was last seen alive at 9am that day. Her concerned family alerted the police when she didn't return home, saying her disappearance was completely out of character.
The police and public rallied round to try to find the missing teenager but her body was found by a passerby yesterday at 11.40am in woodland near Foscote Rise, Banbury, Oxfordshire.
Thames Valley Police said her death is not being treated as suspicious.
A force spokesman said: "The body has now been formally identified as that of missing 14-year-old Molly O'Donovan.
"The death is not believed to be suspicious at this stage and inquiries remain ongoing."
Molly's grieving family were being comforted by a police family liaison officer and were said to be too distraught to speak about the schoolgirl's death.
A post mortem examination was due to be carried out in the coming days, and a file has been passed by the police to the Oxfordshire coroner who will conduct an inquest into her death.
Thousands of tributes quickly flooded in to social networking sites Twitter and Facebook as users expressed their shock at her death.