A fourth person managed to save himself by jumping from the helicopter before impact, the Bio Bio radio station said.
The crash occurred around 9:00 pm (0000 GMT) yesterday and the stricken aircraft caught fire after it hit the ground in a rugged area about 570 kilometers south of Santiago.
Among the dead was the former ambassador and businessman Italo Zunino.
The bodies were recovered Saturday morning, and the injured man was being treated in hospital.