The Independent reported that Scott van Zyl disappeared last week after he went on a hunting safari in Zimbabwe.
Van Zyl and his tracker allegedly walked in different directions into the bush, The Independent said.
According to reports rescue teams were sent to search for the hunter and helicopters, trackers and divers all scoured the region.
His tracks were later spotted leading to the banks of the river and his backpack was located nearby.
Sakkie Louwrens, a member of one of the search teams, said police suspected two Nile crocodiles may have eaten Mr Van Zyl, the Independent reported.