The team, from Sweden and Finland, located the wreck of the submarine S2 off the Baltic Sea’s Aland islands.
S2 sank with all 46 crew and four passengers, after hitting a mine while en route for an attack on Finland's resources, as part of the Soviet Union’s 1939/40 campaign while it was still an ally of Germany.
The find comes after a decade in which divers have, voluntarily and at their own expense, searched for S2 amid numerous wrecks lying in the Baltic.
It has been reported that the submarine was located in February, but that announcement of the find was not made until now, after positive identification of the wreck was made.
The diving team has described the wreck as broken, the submarine having split into three parts after hitting the mine.
The bow is gone, in line with the account of a lightkeeper who sighted the submarine and saw it suffer a large explosion, indicating that its torpedo compartment exploded after the mine was struck.
Remaining are the mid-section, with conning tower still in place, and barnacle-covered stern. Identification was confirmed by discovery of the submarine’s build number, 267. The Soviet hammer and sickle could also be made out on the tower.
One of the diving team was the grandson of the lightkeeper who witnessed the submarine’s end.
The Russian Government has been given details of the find via the Russian embassy in Stockholm.