A search was launched for Christine Clarke.
The 51-year-old was last seen at around 5.30am on Saturday on the A6, close to Frederick's Ice Cream.
Officers said they were "very concerned" for her welfare and and urged anyone with information to get in touch.
Lancashire Police tweeted this afternoon: "Police searching for missing Christine Clarke,51, have found a body in a canal close to Frederick’s in Chorley near to where she was last seen. Her family have been informed &our thoughts are with them.Her death isn’t being treated as suspicious. Thanks for supporting our appeal."