The body of 31-year-old João Marinho, from Amarante, was found on Saturday (1 August) by a group of trekkers in a gorge in Peña Santa de Enol.
The body has been taken to Oviedo, in the Asturias, where it will be autopsied before being repatriated.
Last November Portuguese authorities activated their international contacts to find the missing mountaineer after the alarm was raised by a family friend.
Relatives had heard nothing from the keen mountaineer since 4 November 2014.
Some 50 Spanish rescue members, Portuguese counterparts and volunteers conducted a search for eight consecutive days to find the radical sports enthusiast, but to no avail.
The Picos de Europa, which translates as ‘Peaks of Europe’, is a range of mountains some twenty kilometres inland from the northern coast of Spain, located in the Autonomous Communities of Asturias, Cantabria and Castile and León, forming part of the Cantabrian Mountains.