The body of 75-year-old David Watson, who did not return home after taking a walk in Hermanus, was found on Monday, the police said.
He apparently died after suffering a heart attack.
Brigadier Donovan Heilbron said a search was launched for Watson after he had not returned home from his walk on Sunday.
"His wife was very worried," added Heilbron. "The dog unit found his body."
His daughter, Vanessa, said her father died "doing what he loved and out in nature".
"I miss and admired him greatly," she told News24.
"He had just accomplished walking around Mont Blanc [in the Alps]. A kind gentleman who always tried to do the right thing for everyone."
She described her father as an amazing entrepreneur, father and lover of nature.
Watson helped causes such as the Lippizaners in South Africa, loved fly fishing and had a great love for the Inanda Club in Johannesburg.
"He loved to work hard and spread love to all he felt deserved it."
Lieutenant Colonel Andrè Traut said Watson was found at Vogelgat in Hermanus, adding an inquest into his death would be conducted.
- FOLLOW News24 on Twitter