The body of a man aged in his late forties was found at a premises in Courtown Harbour on Tuesday evening after gardai were alerted at around midnight.
A second man in his forties was taken from the scene to Wexford General Hospital for treatment and later arrested.
Gardai say he was released late last night without charge.
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A post mortem is due to be carried out at Waterford Regional Hospital later today to establish an exact cause of death.
Gardai at Gorey are investigating the death.