The Guardian reports that the body was successfully extracted but authorities have yet to confirm whether it is the footballer or the pilot.
Sala and the pilot Ibbotson are believed to have died as the single-engined Piper Malibu aircraft crashed into the sea.
The Air Accidents Investigation Branch (AAIB) found the body using remotely operated vehicles (ROV) in 'challenging' weather conditions.
With the families of Sala and Ibbotson both aware that neither survived, a plea to recover the bodies were issued, which took place on Wednesday - three days after the aircraft was found on the seabed, more than two weeks after its disappearance on Jan. 21.
"The operation was carried out in as dignified a way as possible and the families were kept informed of progress," the AAIB said in a statement.
An attempt to recover the aircraft, which is largely intact, was suspended due to harsh weather conditions.
Sala had agreed to join Welsh club Cardiff for a club-record fee of £15 million from Ligue 1 club Nantes - who have now threatened legal action against the Premier League side.