The body of Kelda Henderson, 36, was recovered at a Fife quarry where she had failed to surface.
Emergency services were alerted to the incident at Prestonhill Quarry in Inverkeithing at about 21:20 on Sunday.
Her body was recovered at 10:30 on Monday. The head teacher of George Heriot's in Edinburgh paid tribute to the mother-of-one.
Cameron Wyllie, the school's principal, in a letter to parents, said: "Kelda was an immensely talented, compassionate and vibrant person who loved teaching drama, and who has inspired a love of her subject in many young people over the years.
"Those of us at school are very shocked. I know you will all include her son Josh, and her parents, in your thoughts."
Police inquiries are currently ongoing to confirm the full circumstances surrounding the incident.
Insp Ian Stephen, of Police Scotland, said:  "This is a tragic incident and our thoughts are with Kelda's family and friends as they come to terms with this terrible loss.
"We are supporting Kelda's family at this time through specially-trained officers.
"Inquiries are ongoing to establish the full circumstances surrounding this incident. I would like to thank the officers, public and partner agencies who assisted with our search."
In August 2014, Cameron Lancaster, 18, from Burntisland, died at the same quarry while John McKay, 18, from Kirkcaldy, also lost his life there in June 2015.
Last August, a diving training club - Forth Diver Training - was launched at the site by two ex-forces diving instructors to provide diver training courses.
The charity project was formed after the diving community, who have used the site for many years, was invited to work alongside Fife Council and the emergency services to look at ways of improving water safety awareness.
A woman who was killed during a diving accident was an Edinburgh school drama teacher.