UT president Gregory L. Fenves issued a statement Tuesday that the body was discovered in Waller Creek behind the alumni center. Police located the female victim between 10:30am and 11:30am.
Students tell Eyewitness News that the female victim is a student and well-known on campus.
"She was really kind and just good things," Brittany Sedillio said.
The popular walkway is now the center of a homicide investigation.
"She was walking so close to so many buildings, there were probably people around," a student said.
Counselors were on hand as students gathered to remember their classmate.
"It does make me a little bit unsafe," Sharma Nishtha said.
The university is working closely with Austin police to identify a possible suspect or suspects. The identity of the deceased female won't be released until next of kin is notified.
Reminder following today's tragedy: Counseling services available for students: https://t.co/6GOpfHIYfn or call 24/hr line at 512-471-2255.— UT Austin (@UTAustin) April 5, 2016
A message about the tragedy on our campus: https://t.co/0sZRwZp2tj— Greg Fenves (@gregfenves) April 5, 2016
The campus continues to operate on a normal schedule, according to the university. The cause of death is under investigation.