Fishermen hearing the screams of migrants alerted the Turkish coast guard, who picked up the bodies from the sea after the wooden boat carrying migrants from Iraq, Pakistan and Syria capsized about 3.5 km off the coast.
Those rescued were taken to the hospital in Bodrum, many in serious condition, the agency said.
The coast guard was not immediately available for comment.
A record 500,000 refugees from the four-year-old civil war in Syria have travelled through Turkey then risked their lives at sea to reach Greek islands this year, their first stop in the European Union (EU) before continuing to wealthier countries.
Despite the winter conditions and rougher seas, the exodus has continued, albeit at a slower pace. Nearly 600 people have died this year on the so-called eastern Mediterranean sea route for migrants, according to the International Organisation for Migration.
Turkey struck a deal with the EU on November 29 pledging to help stem the flow of migrants into Europe in return for 3 billion euros of cash for the 2.2 million Syrians Ankara has been hosting, visas and renewed talks on joining the 28-nation bloc.
The 2018 Boao Forum for Asia (BFA) annual conference is scheduled for April 8 to 11 in Boao, Hainan Province. The forum will be themed "An Open and Innovative Asia for a World of Greater Prosperity."
— The Daily Mail - People's Daily