Gaubin Rural Hospital administrator Yang Letag said the corpse was discovered at 1pm yesterday and is currently at the morgue.
They are appealing to any relatives of missing persons to come forward and claim the body of the young woman, which will be moved to Madang on Thursday morning.
Letag said the provincial health office and disaster office have been notified, however there is no funding available to move the body.
The deceased has New Guinea islands features, has dark skin and was discovered in the open sea near a floater.
Police have been notified and are also investigating.