Two others were pulled alive from the snow in the area of Malga San Valentino, close to the Haideralm ski centre, Corriere reported.
Alpine rescuers have been able to reach the scene but the use of helicopters has been hindered by heavy snow.
The avalanche risk warning across the Alto Adige region is currently at level three, with the highest being five.
The avalanche comes almost year after 29 people died when a snowslide buried Hotel Rigopiano in the Abruzzo region. Eleven people were pulled alive.