A woman survived the night floating in the ocean while the man remains missing after their boat sank in waters north of Queensland's K'gari (Fraser Island).
Authorities said a distress call was made near Sandy Cape, at the northern end of the island, around 8:30pm Sunday.
Rescue crews said two people radioed in when their 30-foot yacht started taking on water, before they abandoned ship.
The Australian Maritime Safety Authority (AMSA) was coordinating the search for the missing yacht near Breaksea Spit.
The search was launched last night.
An AMSA spokesperson said the body's involvement in the search was suspended earlier this evening "following an extended search".
Queensland Police Service says the search will resume tomorrow morning.
Aircraft crews found the 25-year-old woman surrounded by debris in waters 12 kilometres north-west of Sandy Cape at about 11:30am today.
She was winched to safety and flown to Bundaberg Hospital in a stable condition to undergo further observation.
The woman reportedly saw the vessel sink, but was wearing a life jacket and managed to stay afloat overnight and throughout the morning.
The man who was onboard the yacht remains missing.
Marine Rescue officers, water police, five rescue helicopters and commercial and private vessels had been assisting with the search.
