Police were alerted after the body of a man, described the man as white, slim and 5ft 8in and thought to be in his late 20s or early 30s and was spotted in the water near Canal Street, the gay village, by a passer-by 1:50pm on Saturday.
The man was wearing a grey V-neck T-shirt, black jeans and white Lonsdale trainers with a dark blue stripe when he was recovered from the canal.
Local authorities are currently studying CCTV for clues but have not yet been able to ascertain the man's identity. An initial post mortem showed no signs of a struggle, with toxicology test results still out to establish whether the man had been drinking.
Police have asked bars and businesses around the gay village along with members of the gay community to assist the investigation.
Anyone with information is asked to call police on 101.