“The man was riding a horse with fellow riders, from local stables, when it was reported that he was thrown from his horse, in shallow surf, and immediately disappeared beneath breakers,” said NSRI spokesman Craig Lambinon on Tuesday.
He said an extensive air, sea and shore search was launched for the man.
His body was spotted from a helicopter and recovered by rescue swimmers.
It has been handed into forensic pathology services.
Police have opened an inquest docket.
City of Cape Town spokesman Wilfred Solomons-Johannes said the man fell off his horse at 7.30am and was swept out to sea by a strong current. His body was recovered at 9am.
He urged beachgoers to exercise caution on the coastline.
Disaster response teams were on high alert and deployed to all beaches, swimming pools, caravan parks and other recreational locations, the city said.