Rescuers had been searching for Kylie Bazzo – the mother of West Coast Eagles defender Rhett Bazzo – for more than 20 hours.
Locals helped to search on boats, canoes and on foot along the shoreline.
About 7pm (AWST) on Sunday, water police officers recovered the body of the 52-year-old near Creery Island.
Four people were on board the boat on Saturday night when it crashed into a red navigation marker about 10pm.
Bazzo’s friend Debbie Burdon was killed and Mrs Burdon’s husband John Burdon was seriously injured. Another man was unharmed.
A witness said they yelled out to the boat, which was moving without navigation lights turned on. They watched as the boat hit a pylon at high speeds.
An investigation into the cause of the boat crash is continuing, WA Police said in a statement.
The West Coast Eagles expressed their devastation at the loss of Bazzo.
“The club’s players, staff and Board extend their deepest condolences to the Bazzo family and are offering every support to Rhett, his sister Kameron and their loved ones,” the club said.
“The club asks that the privacy of Rhett and his family is respected during this extremely difficult time.”