The group came across some 30 bottles as they explored a 60m-deep wreck in the Baltic Sea off the Aland islands, between Finland and Sweden.
One was raised and opened. Small bubbles appeared and the champagne tasted “fantastic”, the Daily Mail has reported.
It is thought that the Baltic's consistently cold water conditions helped to preserve the drink.
The divers were later stunned to learn that the champagne is likely to date to the late eighteenth century.
Team member Christian Ekstrom said it was believed that the champagne was bottled in the 1780s and was bound for Russia.
The bottle and what remains of its contents have been sent for analysis by champagne experts in France.
The rest of the bottles are being raised and, if the 18th century link proves correct, they could be worth a large sum of money.
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