The group was hit by the avalanche on Wednesday in the Gran Paradiso National Park, near the French border. The expedition was at an altitude of some 2,500m (8,000ft) when the avalanche struck.
The group's French guide was pulled from the snow after being spotted by a helicopter on Wednesday night. He is being treated in hospital in the nearby town of Aosta.
The bodies of the five climbers were found at the bottom of a gorge, according to rescue officials who said they had been dragged down some 150m (500ft) by the force of the avalanche.
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