A large-scale search and rescue operation was launched after a mayday call was received by a yacht said to be taking on water.
Lifeboats and the UK Coastguard search and rescue helicopters were drafted in after reports of the 70ft yacht carrying seven people was in difficulty in the Solent area at around 9.45pm on Monday.
The Maritime and Coastguard Agency said it was informed the vessel's pumps were not working.
But following an "extensive and thorough" search of the Solent, River Medina and Southampton water during which nothing was found, all search and rescue teams have been stood down.
A spokesman said: "There are no plans to resume the search operation unless further information comes forward."