The aircraft was enroute to Port Moresby in Papua New Guinea, the outlet reported.
Social media posts shows a series of small boats helping passengers from the submerged aircraft.
The passengers and crew were taken to hospital for a checkup, with the airport authorities saying that the incident did not result in any major injuries. The plane in question is believed to be a 13-year-old aircraft previously operated by Jet Airways and Air India Express, and was involved in a collision at Port Moresby in May.
John Merelli, an employee at the High Tide Hotel a short distance from the end of the runway, said he heard the plane coming in but thought it was just a normal landing.
"Somebody has to look into that and let us now", he told the news website.
"It was sinking. It's under water now", he said, while praising the impromptu rescue effort.
All of them were rescued by small boats and there were no immediate reports of serious injuries. That's a 6,013-foot runway, which is on the shorter side for an airport with airline service.
The Boeing 737-800 aircraft was attempting to land at Chuuk Airport on the remote island of Weno in Micronesia but ditched in a lagoon at about 9.30 am local time (12.30am United Kingdom time).
The pictures show rescuers responding to the crash, to help passengers and crew members to shore.