The woman was taken to a local hospital for treatment of hypothermia, according to police. She is expected to survive.
The man's identity has not been released.
Police believe they were on a 10-foot boat that was found overturned Friday night.
Just before 10:30 p.m., neighbors near Priest Point began reporting sounds of someone in the water screaming for help, Snohomish County sheriff's Lt. Susy Johnson said.
The Tulalip Bay Fire Department, the sheriff's marine unit, Tulalip fisheries crews and a U.S. Coast Guard helicopter all joined in the search, officials said.
View Capsizing, 5-17-13 in a larger map
Just after 11 p.m., they found the woman in the water clinging to a life jacket. She is believed to be in her mid-40s and from Mountlake Terrace, Johnson said.
They found the boat about a half-mile away. It was a small boat with an outboard motor, Tulalip Bay fire Capt. Erik Berwick said.
The search continued into the morning, and the man's body was found about 4:30 a.m. near Mission Beach Walk, Johnson said. The man's age and cause of death had not been determined Saturday.
His body was taken to the Snohomish County Medical Examiner's Office.
Police don't believe anyone else was on the boat. The investigation continues.
Tulalip police and crews with the North County Regional Fire Authority also assisted with the operation.
The area was opened back up to the public about 8 a.m. Saturday.
The death marks the third drowning reported in Snohomish County so far this year. A fisherman died in a boating accident on Silver Lake in March, and a man died while rafting the North Fork Stillaguamish River near Oso on May 5.
The rafting accident also remains under investigation, police said Friday.
Rikki King: 425-339-3449; email@example.com.
More Local News Headlines
Number of ways to help those affected by wildfires ‘Queen, It’s a New Day’ pampers, empowers women dealing with hardships 10-year plan looks at ‘big picture’ for Sno-Isle libraries B-17 flight brings back memories for Arlington WWII vet Monroe inmate’s alleged punch to ‘gain respect’ could result in life term Gunfire, car wreck, power outage puzzle Everett police School Winners Front Porch: Smoking banned from Everett Station
Our new comment system is not supported in IE 7. Please upgrade your browser here.