The woman failed to emerge from the water with her friends quickly alerting emergency services.
Queensland Fire and emergency, water rescue, SES personnel and police launched a search of the area which extended throughout the night.
This is not the first fatality to occur at the popular swimming hole after a FNQ woman and a Brisbane man died during separate visits to the area last year.
There has now been a total of 50 deaths at the popular swimming spot over the past 50 years.
Despite the signage outlining the dangers within the area being improved back in 2008 following the death of another swimmer, this has not prevented further incidents from occurring.
Cairns Regional Councillor Brett Moller from the Babinda Boulders area people are simply disregarding the signs.
"We've improved the signage, we've improved the fencing and there is a clear restricted area but people disregard those signs and have no understanding of personal risk there,” he said.
"These things do happen in the natural environment and you've just got to be so aware of your own personal safety.”
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