A French news agency reported that a boy's body was found by bathers in the water south of Porquerolles at around 5pm.
Toulon prosecutor Xavier Tarabeux told Agence France Presse (AFP): "The body matches that of the young boy who went missing on Saturday."
He said the physical appearance matched as well as the clothes.
The agency reported that the body was found by Langoustier bay to the south of the island, not far from where Pierre's bike was discovered.
More top news
Windows of a house were left riddled with bullet holes after the shooting on a quiet residential street.
The money is in return for any information leading to the arrest of James Atherley, who is wanted in connection with a fatal stabbing.
A photo showing a pensioner celebrating his 91st birthday has gone viral after it was shared by people from all over the world.