Saskatoon police received a call around 11 a.m. CT Monday of a man in distress in the middle of the river near Gabriel Dumont Park.
The river rescue team was initially called to the 1200-block of Spadina Crescent West to help with the search.
At one point, three rescue boats and four divers were searching the waters between the Sid Buckwold and Gordie Howe bridges as well as downstream.
The fire department has suspended dive operations, and called off sweeping the river with sonar.
According to police, it is not known how the man entered the river.
The fire department said efforts to locate the missing individual will resume if new information is received. Officials are urging people to stay out of the river and off the ice.