There are reports the snowboarder was found on the southern portion of the ski hill located on Georgian Bay, about 140 kilometres north of Toronto.
Police have not released the name of the snowboarder, believed to be a man in his 20s.
The ski hill is open daily until 10 p.m. ET.
Police are expected to release more information before 9 a.m. Wednesday.
CBC News spoke with Paul Pinchbeck, Blue Mountain's vice-president of marketing, who said police are still investigating.
"We're very saddened to read of any injury to any of our guests," he said. "And this is the most tragic of circumstances. Our feelings go out to the snowboarder's family and we'd just like to co-operate with the investigation in any way possible."
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