Pierre Naville took off from an airstrip near the remote New South Wales town of Wilcannia, some 840 kilometres northwest of Sydney, on Saturday afternoon, along with seven other paragliders.
New South Wales police said they all landed on a highway about 160 kilometres further south, except for Naville, prompting emergency services to launch a search.
His body was found in bushland near the landing site on Sunday afternoon and authorities were working to retrieve his body.
No further details about his death were released. A report is being prepared for the coroner.
67 year old Naville, was the founder of a school called "Passengers of the Wind". He helped develop a site in Talloires, in France's southeast Auvergne-Rhône-Alpes region which has become a well-known spot for paragliding, host to a number of international competitions.
The news of Naville's death was confirmed by the Grand Bornand mountain resort in the Haute Savoie department, via a message on Twitter.
😪 Pierre Naville a décollé pour son dernier vol ce week-end en Australie... Pensées pour tous ses proches. Le Grand-Bornand est très triste !https://t.co/RI74XfYXbdLe Grand-Bornand (@mongrandbo) 9 décembre 2018