Pasquale Kevin Bruzzese, originally from Minturno, in the Lazio province of Latina, was killed a day after his 65th birthday.
His death was announced by his nephew, Vincenzo Fidele, on Facebook.
The businessman had lived in Ecuador for several years. According to the latest official figures, 413 people were killed, although the search for survivors continues.
Aerial view of Pedernales, one of Ecuador's worst-hit towns. Photo: Pablo Cozzaglio/AFP
On Monday night, six people - including a three-year-old girl and baby of nine months - were rescued from the ruins of a hotel near Manta, a coastal town.
The earthquake, which also injured some 2,500 people, is the worst tragedy to have affected Ecuador in seven decades, the country's President Rafael Correa said, adding that rebuild costs would run into billions of dollars.