At 10.30am on Thursday, November 28, police were called to Wyaralong Dam boat ramp after a 67-year-old man went missing in the dam.
Police said the man had entered the water to collect a lost fishing rod.
Acting Sergeant Josh Piper from Boonah police said SEQwater rangers as well as the police dive squad combed the area for the man.
His body was recovered several hours later about 30 metres from shore by the dive squad.
Sergeant Piper said he would like to thank the witnesses who came to the aid of the man's wife who entered the water in an attempt to save her husband.
She also began struggling in the water until she was saved when a contractor working at the dam entered the water to save her.
A report is being prepared for the coroner.