"290 people saved, 188 still on board Italian navy's ship De La Penne will be on scene at 9am," the Italian Navy posted on Twitter.
The Italian Coast Guard reported that one man has died on the burning ferry and two people are injured.
The Greek Shipping Ministry reported that a group of doctors have boarded the ferry, but there is still no information about the injured passengers and crew still on the ferry.
The fire on the Italian-flagged ferry, which was traveling from Greece to Italy, broke out early Sunday morning from the ship's garage unit.
Later on Sunday, the ferry was taken under tow, with the fire on board partially under control. The rescue operation started at night and is being coordinated from the San Giorgio, an Italian Navy ship.