Carolina Wilga, 26, was last seen at a general store in the Western Australian wheatbelt town of Beacon about noon on June 29, some 300km northeast of Perth.
Her disappearance triggered a nationwide search after a desperate plea for help from her mother amid concerns for her daughter's safety.
Late on Friday afternoon, she was found walking on a bush track by a member of the public.
The young woman was in a "fragile" state but had no serious injuries, Inspector Martin Glynn told reporters.
Ms Wilga was being flown to a hospital in Perth for medical treatment after spending days lost in challenging conditions.
"I think once we do hear her story, it will be a remarkable story," Insp Glynn said, adding that it was a "great result" for the backpacker's family and those involved in the search.
"You know, she's obviously coped in some amazing conditions.
"There's a very hostile environment out there, both from flora and fauna. It's a really, really challenging environment to cope in."
Ms Wilga's Mitsubishi van was located on Thursday in the Karroun Hill area in what police described as "very heavy and quite challenging terrain".
"It's a miracle they've actually spotted the car, to be honest," Insp Glynn said earlier.
Ms Wilga's car was bogged in mud following rain and she had tried to free it but had apparently failed.
"She'd used max tracks and pieces of wood to try to free the vehicle from its location, but unfortunately was unsuccessful," Insp Glynn said.
A search of her car and the surrounding area failed to yield information about which way she might have headed.
Police earlier said they still had hope of finding her alive despite it being nearly two weeks since she was last sighted and temperatures repeatedly dropping to near-zero overnight.
Authorities conducted air and ground searches and had planned to continue surveillance flights at night and into Saturday.
Police previously said a person could easily become lost or disoriented in the remote and inhospitable location.
Ms Wilga's van, which was equipped with solar panels and water, was found about 35km inland from any main tracks.
Aerial images show it surrounded by dense bush on three sides.
Ms Wilga's mother previously pleaded for anyone with information about her daughter to contact authorities.
A Facebook page named Help Find Carolina Wilga was also set up.
Karroun Hill Nature Reserve, at more than 300,000 hectares, is the largest nature reserve in the southwest of WA.Â
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