BREAKING NEWS Sad update in search for missing pilot who crashed in the Snowy Mountains
Police located the remains near Khancoban, a small town in the western foothills of the Snowy Mountains, about 3pm on Friday.
While he has yet to be formally identified, police believe the remains belonged to pilot David Stephens, 74, who went missing mid-flight on Tuesday.
The plane was declared missing after failing to make its scheduled arrival time about 4.30pm on Tuesday at Moruya Airport on NSW's Far South Coast.
It triggered a multi-day search led by the Australian Maritime Safety Authority (AMSA) which came to a head when the wreckage was located about 4pm on Thursday.
Mr Stephens had been flying from Wangaratta in north-east Victoria and was the sole occupant of the aircraft.
A tax accountant by trade, Mr Stephens reportedly planned to retire within months and has been described as a respected member of the Sapphire Coast community.
His wife Lynda Leigh told ABC News the ordeal had been 'heartbreaking' for his family.
She described her husband as an experienced pilot and said his aircraft - a 1966 Beechcraft Debonair plane - been inspected before taking off from Wangaratta.
'Unfortunately, David disappeared on his flight home on Tuesday, July 15, after having his aircraft inspected,' Ms Leigh said.
'It is known that the mountain weather can turn very quickly, and we can only assume he must have seen a way over the mountain to decide not to turn back to Wangaratta.
'David has quite a bit of experience flying the plane, but we can't know what situation he was facing, and we'll only have answers once they locate the plane and, with that, David.'
NSW Police took charge of the search operation when the plane was spotted and remain at the site of the crash.
They are expected to recover the body later this afternoon and will prepare a report for the coroner.
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