Fire engulfed the 30-tonne wooden fishing vessel, six nautical miles off the coast of Wenchang in northeastern Hainan, country's island province.
One fisherman was reportedly trapped in the engine cabin and the rest five abandoned the vessel in time to jump into the sea, state-run Xinhua news agency reported.
By the time maritime police arrived at the spot, most of the boat's part had been damaged. The charred boat later sank.
The police rescued five persons and recovered one charred body.