Four people were traveling in the boat, which capsized on Fjällsjöälven approximately five miles northwest of Sollefteå. A boy under 15 years old was found in the water but died later at the hospital.
A man in his 40s was rescued, but two more men, in their 40s and 30s, are still missing.
The police have searched for the men with divers, sonar, dog, drone, and helicopter without success. The diving operation was completed on Wednesday afternoon and on Thursday, a final active search operation was carried out in the area with a helicopter.
It is now completed, says the police's press spokesperson Elin Andersson.
A number of belongings have been found in and by the water where the accident occurred, but the men are still missing. The search can be resumed if new information comes in.
Fjällsjöälven has stronger currents than natural waterways as Vattenfall's hydroelectric power plant by the river results in faster emptying and filling. The state-owned company will conduct its own investigation to see if the accident could have been prevented, reported Tidningen Ångermanland on Wednesday.