The team, which includes British, Bulgarian, Swedish, US and Greek marine archaeologists and maritime scientists, said the vessel was found at a depth of more than 2km.
The researchers examined the ship with remotely operated underwater vehicles, collected a sample and carbon-dated it to around 400 B.C. The University of Southampton says this confirms the vessel as the oldest known intact shipwreck in the world.
An global team of scientists and researchers have stumbled upon an ancient discovery at the bottom of the Black Sea.
It's believed to be from a Greek merchant ship.
"This will change our understanding of shipbuilding and seafaring in the ancient world", Adams said.
A team of researchers from Britain and Bulgaria found the skeleton of a Greek trading vessel during an exhaustive survey of 772 square miles (2,000 sq km) of seabed.
It is thought that the ship could be around 2,400 years old. Incredibly, modern eyes have only seen this type of ship before as an illustration on the "Siren Vase", a stunningly decorated vase depicting the ship of Odysseus, which is now in the British Museum.
The Greek trading ship which was found at a depth of more than two kilometres, where water is free of oxygen and can preserve organic material for thousands of years.
"Normally we find amphorae [wine vases] and can guess where it's come from, but with this it's still in the hold", Farr told the BBC.
Their exploration unearthed more than 60 shipwrecks, including Roman trading ships and a 17th century Cossack raiding fleet.
The team is releasing a documentary on its findings Tuesday at the British Museum, offering a glimpse into what archaeologist Fredrik Hiebert called "an incredibly rich museum of human history".
The preservation is so incredible that the bones of the monkfish being eaten by the crew at the time the ship went down have been perfectly preserved on the deck. The Black Sea is the largest body of water in the world with a meromictic basin-meaning deep waters don't mix with the upper layers that get oxygen from the atmosphere.