Steve Cheshire, 37, from Yeovil in Somerset, was diving on 5 July in a group of eight from the charter boat Wey Chieftain IV, out of Weymouth.
During their exploration of the wreck, which lies 20 miles out from Dorset’s Portland Bill in about 60m of water, Cheshire got into difficulty and made a rapid ascent.
Boat skipper Graham Knott told press that, after surfacing face down, Cheshire “just managed to lift his arm up” to signal that he was in distress, before losing consciousness.
Cheshire was quickly brought aboard and given emergency treatment as a mayday message was put out. He was airlifted initially to the recompression unit at Poole General Hospital.
It was judged that his condition was critical enough to warrant flying on to the A and E department at Dorset County Hospital in Dorchester, where it was confirmed that he had died in transit.
Cheshire was described by Knott as a “very experienced diver" and keen wrecks researcher.
An inquest has been opened and adjourned at Blandford, in Dorset.
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