The body of the Mexican priest, who was kidnapped on 19 September, was found in the central state of Michoacan on Sunday, said the state attorney general.
He is the third priest who was slain in Mexico in the past one week.
The deceased priest, identified as Jose Alfredo Lopez Guillen, was robbed and kidnapped from his home in Janamuato last week, but no ransom call was made for his release.
His body was found on a highway between Puruandiro and Zinaparo. The police confirmed that he was probably killed five days before his corpse was found. The post-mortem reports also revealed gunshot wounds to be the cause of death.
According to the Associate Press, the Archdiocese of Morelia confirmed Father Lopez Guillen's death through its social media accounts and urged the authorities to investigate the murder.
"We lament these violent acts and the insecurity in our state. We hope that authorities solve this crime," said the statement.
On the day of his disappearance, the bodies of two other priests, identified as Alejo Jimenez and Jose Juarez, were found in Mexico's east coast city of Veracruz. Both the murdered priests were abducted from their church in the city of Poza Rica the day before.
The police said that they are investigating if the twin murder is related to that of Father Lopez Guillen.
According to a rights group called Christian Solidarity Worldwide, at least 31 priests have been murdered in the last decade of dung violence in Mexico.