The ship was carrying a total of 476 people -- mostly high school students on a school trip.
Even though no bodies have been recovered from the interior over the past two weeks, divers have continued searching the submerged vessel in extremely hazardous conditions.
Two divers have been killed so far -- the latest just last week.
The body found on Thursday by a local fisherman was floating at sea 40 kilometres (25 miles) northwest of the sunken ship, the maritime ministry said.
Fingerprint tests confirmed the person was one of the missing passengers.
The recovery will underscore warnings that other bodies may have been washed far from the rescue site by the strong currents -- and that some may never be recovered.