The midshipman's vehicle was found Sunday afternoon in College Creek near the Nimitz library on campus. A dive team discovered the student's body underwater near the seawall, says NBC 4 Washington.
The vehicle is being examined by the Naval Criminal Investigative Service and police from the Naval Support Activity Annapolis Police, the Sun says.
School officials say the victim's family has been notified, says the TV station. A name will be released after 24-hours.
The cause of the accident is under investigation.