They said the two men, who were travelling from Kargil towards Kashmir Valley on foot, came under a snow avalanche early in the morning in Nilgrah, 85 kms from here.
The body of one of the youth was pulled out of the snow by a rescue team and efforts are on to trace the other.
The identity of the duo is being ascertained, police said, adding that they received a report about two youths - Javed Ali and Mohammad Baqir - both residents of Kargil, leaving the town April 5.