David Cundall, 62, told The Sun he was convinced that up to 124 planes were buried in Myanmar.
A deal with the Myanmar authorities means Cundall gets to keep 30 percent of any Spitfires found, the daily said.
Despite being buried for 67 years, he believes they can be restored to fly again.
The expedition will be joined by war veteran Stanley Coombe, 91, who reportedly saw US bulldozers bury half a dozen of the iconic planes in crates at the end of a runway.
There are currently about 40 airworthy Spitfires in the world, each worth around 1.5 million pounds.
Cundall said restoration of the planes could create work for around 700 British engineers.
