The four, who were part of a group of half a dozen students, met the watery grave late last evening and their bodies were fished out today.
"The bodies of four students of Saraswati School at Nobel Nagar were today recovered from Sabarmati river near Nandigram Society," Inspector K K Patel of Sardarnagar Police Station said.
The deceased were identified as Sandip Darbar, Parth Desai, Keyur Chaudhari and Ajay Parmar, all Class 12 students.
They were part of a group of six friends who bunked their tution class and went to the river bank for recreation, he said.
"However, none of them could withstand the flow and drowned. A passer-by, who saw the boys in trouble, jumped into the river and saved two of them," Patel said.
The survivors were identified as Prithviraj Jadeja and Vijay Parmar, said police, which registered a case of accidental death.