An archaeological mission, affiliated with France’s University of Strasbourg, made the discovery in the Assasseef valley near the city of Luxor.
Two sarcophagi, each containing a mummy, were found. All are in perfect condition.
The archaeological dig also discovered around 1,000 funerary statues at the site.
The tomb is believed to date to the 18th Dynasty, which spanned from 1550 BC to about 1300 BC.
The Secretary-General of the Supreme Council of Antiquities, Mostafa Waziri, said at a press conference on Saturday that the team made the find after working at the site since March.
Egyptian authorities on Saturday unveiled a well-preserved mummy of a woman inside a previously unopened coffin in Luxor in southern Egypt dating back more than 3,000 years.
The sarcophagus, an ancient coffin, was one of two found earlier this month by a French-led mission in the northern area of El-Asasef, a necropolis on the western bank of the Nile. The first one had been opened earlier and examined by Egyptian antiquities officials.
“One sarcophagus was rishi-style, which dates back to the 17th dynasty, while the other sarcophagus was from the 18th dynasty,” Minister of Antiquities Khaled Al Anani said. “The two tombs were present with their mummies inside.”
The Eighteenth Dynasty dates back to the 13th century BC, a period noted for some of the most well known Pharaohs, including Tutankhamen and Ramses II.
It was the first known time that authorities had opened a previously unopened sarcophagus before international media.
The tomb contained five colored masks and some 1,000 Ushabti statutes – the miniature figurine of servants to serve the dead in the afterlife.
Three-hundred meters of rubble were removed over five months to uncover the tomb, which contained colored ceiling paintings depicting the owner and his family.
The tomb, which also contains mummies, skeletons and skulls, dates back to the middle-kingdom almost 4,000 years ago but was reused during the late period.
Ancient Egyptians mummified humans to preserve their bodies for the afterlife, while animal mummies were used as religious offerings.
Egypt has revealed over a dozen ancient discoveries since the beginning of this year.
The country hopes these discoveries will brighten its image abroad and revive interest among travelers who once flocked to its iconic pharaonic temples and pyramids but who have shunned the country since its 2011 political uprising.
BBC & Telegraph