McCartney bought the bass in 1961 for £30 and he played it in Hamburg nightclubs, the Cavern Club in Liverpool and at Abbey Road studios. It was last seen as the Beatles recorded their final album to be released, Let It Be, 54 years ago.
A search to find the missing instrument specifically a Höfner 500/1 electric bass-was launched last year. But this week student Ruaidhri Guest shared a picture on social media claiming to be in possession of it. Guest said he had inherited it, adding that it had since been returned to its original owner.
"To my friends and family I inherited this item which has been returned to Paul McCartney. Share the news," he posted on X.
McCartney's guitar - which could be worth as much as £10m - became synonymous with the musician during the early days of the band. It was bought when the then-unknown group toured nightclubs in Hamburg, Germany, in the early 1960s.
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