By james art Ms Taylor, 34, disappeared from her home in Malton, North Yorkshire, on September 30.
Just over a week after her disappearance, police said there was a “significant possibility” she had gone into the river after they recovered CCTV footage of her walking towards a play park near the shore.
A number of her possessions were also found in this area.
Searches of the river have been underway since Ms Taylor was reported missing on October 1, including the use of divers and specialist sonar equipment.
On Tuesday, Assistant Chief Constable Wayne Fox of North Yorkshire Police said a body was found by underwater search teams at 11.45am near the area where Ms Taylor’s belongings were found.
Speaking at a press conference at Fulford police station in York, Mr Fox said formal identification had not yet been made but Ms Taylor’s family had been informed and were “understandably concerned”.
He said: “Victoria’s disappearance has understandably had a wider impact on the Malton and Norton communities.
“Victoria’s loved ones have been heartbroken in the days since her disappearance and have acknowledged how grateful they are for the outpouring of support from the community.
“While today’s outcome is not what anyone would have wanted, Victoria’s family have asked us to say that they are devastated and would like some space to process the news, and our thoughts remain with them at this time.”
Officers previously said Ms Taylor left her home at 9am on Monday, September 30, and was seen on CCTV at 11.35am at the BP garage on Welham Road in the Norton area of Malton where she purchased several items.
Another sighting was taken at 11.53am at Malton Bus Station on Railway Street.
Further CCTV footage shows Ms Taylor walking towards the Riverside Walk play park at 12.30pm.
In a statement released last Tuesday to mark two weeks since Ms Taylor was reported missing, her sisters Emma and Heidi said: “There are no words to describe how we feel as it is constantly changing.
“We need to have some normality for the children. As we know, Vixx is a mom, but she’s also an aunt, and Halloween is one of her favorite seasons since she’s the queen of costumes.
In a statement released through North Yorkshire Police, the sisters said: “The local community has been amazing, from putting up posters to the daily walks to look for Vixx. We would like to thank the special people, you know who you are.
“The wider community on the Facebook page with over 10,000 people sharing Vixx’s information and sending support has given us comfort.”