The body of a missing fisherman has been found inside the wreckage of FV Jubilee on the seabed.

Canterbury police deployed a team of divers and a remote-operated vehicle to look at the item of interest found off the Canterbury coast.

FV Jubilee has been missing since its crew sent out a distress signal after they were caught in a brutal storm on October 18.

Fishermen Jared Reese Husband, 47, of Timaru, Paul Russell Bennett, 35, of Motueka, and 55-year-old Terry Donald Booth, Nelson region, are presumed dead.

Sergeant Phil Simmonds said improved weather yesterday meant the recovery effort could continue.