Emergency services were called to Cooyal Creek at Gulgong, 30km north of Mudgee, last night after receiving reports a vehicle had been swept into a swollen waterway.
The driver, a 45-year-old man, and two male passengers aged 43 and 26 escaped the vehicle.
NSW Police had earlier reported the woman had gotten out of the car but remained missing.
The search for the woman resumed around 7am this morning with police, State Emergency Service, Rural Fire Service and Volunteer Rescue Association crews leading the operation.
Around 9.50am today, a woman’s body was found on the riverbank.
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“While she is yet to be formally identified, it is believed to be that of the missing 28-year-old woman,” police said in a statement.
A report will be prepared for the coroner.
NSW State Emergency Service have issued 142 flood warnings, stretching from the Victoria border to Queensland.
Of those, 23 are at emergency level.