Attorney General Luisa Ortega Diaz is announcing via Twitter the discovery of the aircraft with the ID code YV2081.
The plane went missing Jan. 4, 2008. Aboard were five Venezuelans including the pilot and copilot, eight Italians and one Swiss citizen. The copilot's body was found days later.
Foreign Ministry press chief Jorge Galindo says the wreckage was discovered about six miles (nine kilometers) off Los Roques archipelago at a depth of around 3,000 feet (900 meters).
A statement released Wednesday by the Public Ministry says the search was carried out by the U.S. search boat SeaScout under an agreement between Venezuela and Italy.