The Canadian Forces Joint Rescue Co-ordination Centre (JRCC) confirmed it was looking for a helicopter with the registration call sign D-HDIM, the same aircraft Sergey Ananov was spotted refuelling at the Iqaluit airport on Friday.
The helicopter was en route to Greenland, a more than 800-kilometre trip.
The Canadian coast guard ship Pierre Radisson found Ananov, the Joint Task Force Atlantic tweeted around 6:50 a.m. AT Monday. The boat is en route to Iqaluit, it said.
Ananov began his world trip June 13 in Moscow.
He had arrived in Iqaluit on July 23 via Labrador and Nunavik, in a helicopter weighing less than a tonne, after a long journey across North America.
Ananov was travelling in a Robinson R-22 helicopter Saturday morning when the JRCC received information about a marine distress broadcast reporting a missing helicopter.
Two Hercules search-and-rescue aircraft and a Cormorant helicopter from 14 Wing Greenwood in Nova Scotia were dispatched to join the search, which also involved a Transport Canada patrol plane and a fishing boat.
The helicopter was reported overdue at 3:20 p.m. ET Saturday.