The boat was carrying Egyptian, Syrian and African migrants, according to security sources.
In a statement, the health ministry said that at least 29 people drowned, while five others were injured after the boat capsized in Kafr el-Shiekh Governorate.
Bodies of 10 women, 18 men and one child have been found so far, officials said.
Other sources put the death toll to 31.
Around 150 people have been rescued and rescue workers are looking for more survivors.
However, in recent years, several people from different strife-hit countries tried to find illegal methods to escape from their countries and head to Europe in order to find better life.