The body was found by a groundskeeper in Irvington in Westchester County at 3:15 p.m. Monday.
Irvington Police Chief Michael Cerone told the Journal News that police "strongly believe" the victim is Betty Iannarelli.
Her family was notified Monday night.
He said the medical examiner will conduct an autopsy for positive identification.
The area where the body was found is less than a half mile from where the victim was last seen on Aug. 4.
Iannarelli suffered from Alzheimer's disease. She lived in the area with her daughter.