A local man discovered the body near his property line and immediately alerted authorities.
According to a press release issued by the Carroll County Sheriff's Office, the body is believed to be that of William Russell Price of Berryville.
Price had been reported missing last month.
"We are looking into the death of the man; right now the cause is unknown but it is under investigation," said Investigator Mark Bailey.
The body has been sent to the state crime lab for medical examination into the cause of death and for positive identification.
Price was last seen on July 11, 2012 leaving Berryville Wal-Mart.