The avalanche is just the latest to the hit the state, which is being pummeled by a winter storm. One person suffered a "serious lower body injury" and was hospitalized, while another was treated for injuries at a medical facility near the resort and later released, Squaw Valley staff said.
The resort has been closed.
Tahoe Nordic Search and Rescue launched an overnight search but it was suspended due to avalanche danger, according to resort officials.
His body was discovered at 10:10 a.m.in the Squaw Creek area of the resort, said Liesl Hepburn, a spokeswoman for Squaw Valley Alpine Meadows.
The Placer County Sheriff's Office says they are on scene of an avalanche at Squaw Valley Ski Resort.
Wenyu Zhang, 42, vanished Thursday as the region was hit by a blizzard packing winds gusting to almost 150 miles per hour over the ridge tops. Twenty-one people were killed then and two remain missing. Hours later, a blizzard brought wind gusts of almost 150 mph over the ridge tops of Sierra Madre, dumping 3 feet of snow in the mountains.
Officials said 87 percent of those in the threatened areas complied with the evacuation order.
Office of Emergency Management Director Rob Lewin says crews are checking roads, debris basins and utilities after the worst of the storm passed over the county's south coast early Friday.
Some minor roadway flooding occurred, but the region's main highway, US 101, remained open throughout the storm.
The storm front continues to push into the Los Angeles region as the morning rush is underway.
Motorists are warned to stay off Northern California mountain roads as a major winter storm is expected to bring heavy snowfall and powerful winds Thursday.
As many as 30,000 people are under orders to leave Friday in foothill communities of Santa Barbara County, including areas devastated by deadly mud flows in January. He had gone missing during a blizzard on Thursday, according to the Associated Press. The U.S. Forest Service has issued an avalanche watch for the Sierra backcountry around Lake Tahoe.