The Altalena was located intact just after midnight Monday at a depth of 503 meters, west of Israel's coast.
The ship was found at 12:30 a.m. during a maritime search operation following months of planning and preparations.
The discovery was made using a vessel equipped with special sensors and advanced survey systems. The search expedition was launched at the initiative of Heritage Minister Amichai Eliyahu and managed by Roni Sadeh, director of the Marine Mapping Division at the Survey of Israel.
The Altalena arrived in Israel in June 1948 carrying immigrants, including Irgun fighters, as well as weapons and military equipment. Sixteen Irgun members and three IDF soldiers were killed in the clash that broke out as the ship sailed towards Tel Aviv.
The latest findings from the discovery of the Altalena will be presented at a press conference later Monday. Footage collected from the depths will also be shown during the press conference.
Heritage Minister Eliyahu said, "Locating the Altalena is a defining moment for our national memory. We worked on this operation out of a deep sense of mission to uncover the historical truth and make the story of the ship's heroes accessible to future generations."
Roni Sadeh commented on the search operation: "We succeeded in reaching the ship at a depth of more than 500 meters thanks to advanced technologies and the intensive work of a professional and dedicated team at sea."
National Security Minister Itamar Ben Gvir said, "Tonight, we are closing a historic circle regarding one of the most painful and defining events in the history of Israeli society. We worked on this matter in secret for many years, and today, the fruits of the intelligence and operational effort have borne moving results for the sake of historical truth, the memory of the fallen, and the unity of the people of Israel."
The Altalena was purchased in the United States in the summer of 1947 by an Irgun organization and had originally served as a US Navy tank landing ship. In June 1948, it sailed to Israel carrying approximately 930 immigrants, as well as large quantities of military and medical equipment.
After it reached Israel's shores, a dispute arose between the Irgun leadership and the government over the weapons aboard the ship. Following clashes at Kfar Vitkin, the ship reached the coast of Tel Aviv, where exchanges of fire resumed on June 22, 1948. The ship was shelled and caught fire, and its remains were later sunk off the coast of Nabi Rubin.