Another body believed to belong to a missing fisherman has been found by police searching the Eucumbene Dam in the NSW Snowy Mountains.

A search was launched late on Wednesday by crews from the SES and local police after two men, both 73, failed to return from a fishing trip in Lake Eucumbene, near Adaminaby.

The first body was found by search crews on Thursday.

Several helicopters were sent to the scene to help find the second man, with his body discovered in the same location at 11am on Sunday.

Police will prepare a report for the coroner.