The body, discovered near Pentwyn Leisure Centre, has today been taken to the University Hospital of Wales, Cardiff, while searches of the area continue.
Mr Megherbi, 24, has not been seen since Tuesday, October 9 in Roath.
Kane Burns, 26, from Llanedeyrn, appeared at Cardiff Magistrates’ Court on Saturday, November 24 charged with his murder and is remanded in custody.
Detective Chief Inspector Gareth Morgan, of the South Wales Police Major Crime Investigation Team, said:
“On Friday afternoon police search teams located a human body concealed within the woodland.
“The body has not been formally identified but tests are being carried out along with a specialist search of the area.
“We are grateful for the support of the local community while our investigation continues and are also appealing for information.
“In particular, we are keen to speak to anyone who walks through this woodland and may have heard or seen anything suspicious recently.”
Mr Megherbi, who is from Algeria, has strong links to northwest London and had recently been living in Newport Road, Roath.
No information is known about his family but efforts are continuing to trace next of kin.
If you can help, please contact South Wales Police on 101 or Crimestoppers anonymously on 0800 555 111 quoting occurrence number *416778.
Alternatively, information can be submitted via the Police Major Incident Public Reporting Site: