It happened at Mintz Pond at Pamalee Drive and Helen Street around 11 a.m.
The pond is not a public body of water, because it is part of the watershed for the Public Works Commission. The banks of the pond are mostly overgrown and a fence surrounds much of the water.
Police say a PWC employee spotted the body and called for help. A dive team was called in to retrieve the body that was floating near the center of the pond.
Fayetteville Police Spokesperson Dan Grubb said the name and age of the person have yet to be determined and the cause of death is unknown. He did not say if foul play is suspected.
"We don't know if this was a natural," Grubb said. "We don't know if its a homicide as of yet. Nor have we determined the race and age of the person in the water."
At this point, investigators say they suspect the body had been in the pond since maybe Thursday or Friday and they hope to get some of that information from the medical examiner by Tuesday.