The "Pucapampella Shark" was unearthed at Imarrucos, a paleontological site at the northwest of Titicaca.
The remains, found by researchers from the State University of Puno in Peru, are believed to date from the Devonian epoch, also known as the "Age of Fish," when various fish species emerged.
It is believed to be the 400-million-year-old precursor to today's vertebrae.
Peruvian officials are looking to protect the site by placing it on the list of National Cultural Heritage sites, 'Xinhua' reported.
"Soon, we will be able to talk with more knowledge about the Peruvian Devonian seas and their biodiversity," Zevallos added.