Thames Valley Police said the body was found on land in Thame, Oxfordshire.
A search had been taking place across the county for Ms Waters.
The 33-year-old had written about films, books and the visual arts for The Daily Telegraph, and some of her paintings had appeared on the Saatchi Art website.
Her death is not being treated as suspicious, and a file is being prepared for the coroner.
Specialist officers have been supporting her family following the tragic discovery.
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