Alexandra Clarke, 26, was on board the Davy Jones Locker, which was carrying 22 tourists, scuba instructors, and crew members to Southwest Pinnacle, a popular dive site about 9 kilometers from Koh Tao, the Bangkok Post reported.
When passengers were evacuated and transferred to other boats, Clarke was unaccounted for.
Her body was later found on the fire-damaged vessel.
She had reportedly been seen entering the restroom shortly before the fire started, according to Khaosod English.
Authorities said the fire originated in the engine room and spread through the boat quickly.
Preliminary reports indicate that the engine room, captain's cabin, and rear restroom were damaged.
The exact cause of the fire remains under investigation.