In a series of Instagram posts, the missing man's wife identified him as former WWE wrestling star Shad Gaspard.
The Coast Guard's Base Los Angeles/Long Beach crew said it suspended its efforts "after 16.5 hours of searching with multiple rescue assets covering 70 square nautical miles and seven search patterns."
Gaspard was among several swimmers who got caught up in strong rip current Sunday, prompting Los Angeles County lifeguards to rescue a 10-year-old boy who is believed to be Gaspard's son.
Lifeguards rescue 10-year-old boy from waters in Venice Beach, father remains missing
The boy was described as being in good shape after being pulled from the water. He was not hospitalized.
The elder Gaspard on Sunday "was last seen by a Los Angeles County lifeguard about 3:40 p.m. as he swam in the ocean about 50 yards from Venice Beach," a Los Angeles Police Department statement said. "When last seen by the lifeguard, a wave had crashed over (him) and he was swept out to sea.''
Gaspard was a star with World Wrestling Entertainment, making up one half of the tag team Cryme Time with his partner JTG.