Coast guard teams are searching for two others missing. A baby was among the people rescued by teams, said local reports.
The boat was carrying a group of migrants seeking to cross into Greek island of Lesbos sank off Turkey's province of İzmir.
Two miles off the Bademli Village coast in Dikili district, the boat capsized due to extra load and surge in the Aegean Sea.
Coast guard teams hit the scene over the migrants' cries for help and launched ongoing research rescue operations. According to migrants who have survived after the incident, some other migrants have been missing.
Scubadivers from Ayvalık and İzmir were called on to get to the scene, after a tip-off claiming some of the migrants might have been stuck in the boat's cabin.
The corpses were sent to the forensic.