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The Los Angeles Police Department confirmed to Fox News on Wednesday that a body that was discovered near Venice Beach in the early morning of May 20 was the 39-year-old.
Gaspard was swimming with his 10-year-old son, Aryeh, when they and several other swimmers were caught in a strong rip current near Venice Beach.
Gaspard previously rose to fame in the WWE as one half of the tag team group Cryme Time, along with his partner, JTG.
His fellow WWE stars took to social media to mourn his death and pay tribute to the athlete's legacy.
"WWE is saddened to learn that former WWE Superstar Shad Gaspard has passed away at the age of 39," the organization said in a statement.
Triple H wrote, "I join fans around the world as we remember Shad Gaspard as a beloved performer and a caring father. In absolutely tragic circumstances, please keep his loved ones in your thoughts."
The Bella twins said Shad had a "magical soul."
"My Love, Thoughts, Prayers and Support Go out to The Family of Shad Gaspard. Nothing will ever Fix the loss of a loved one. As a Universe We owe it to ourselves and to others to Be a Positive Light in this world as long as we can Because Nothing is Ever Guaranteed," added Titus O'Neil.
"My heart is heavy praying for the entire Gaspard's family," said Trinity.
Natalya Neidhart, aka Nattie, said: "The world has lost a wonderful human being."
Former WWE star Dwayne "The Rock" Johnson wrote, "My prayers and hope for Shad Gaspard’s wife, son and family during this unthinkable time. Man, this is a tough one. A really tough one. Great guy."
His wife, Siliana Gaspard, issued a statement obtained by Fox News Tuesday thanking authorities and fans as search efforts were ongoing.
“We would like to express our gratitude to the first responders who rescued Aryeh and to the lifeguards, coast guard, divers, fire and police departments for their continued efforts to help find our beloved Shad,” the statement said.
The statement added: “Shad is a fighter, a warrior and a magical soul. We are hoping and praying for his safe return. As a family we thank you all for your concern and well wishes. Please continue to keep sending your positivity and prayers to our beloved Shad.”
Fox News' Tyler McCarthy and the Associated Press contributed to this report.