Both Broughty Ferry lifeboats were called out shortly before midday, with a Coastguard helicopter later joining the search.
Coastguard officers conducted a search on foot of the waterfront area close to the bridge.
The lifeboats were stood down at about 15:00.
A Broughty Ferry RNLI spokesman said: "The inshore lifeboat was launched within six minutes and was quickly in the area of the reported sighting.
"The all-weather lifeboat Elizabeth of Glamis was launched a short time later to join the search.
"Following an extensive search of the area no one was found."
A lifeboat and Coastguard search has been carried out after a report of a body seen in the water near the Tay Road Bridge at Dundee.