Underwater archaeology in Romania is still at its initial phase in terms of formation and research, but nevertheless underwater discoveries of historically important shipwrecks have been registered annually in the last decade. This study brings to surface the recent identification of Nicholas shipwreck, discovered in 2011 in the Romanian territorial waters of the Black Sea, off Cape Tuzla. The projects of marine prospecting closely present the research and documentation stages of the amateur divers, specialized personnel or mixed teams. It is noticeable that on this background stand out the interpretations and hypothesis issued until the identity of the shipwreck is determined, as well as some viewpoints regarding the circumstances of the wreck, following the incompatibility within the archival documents compared to the actual field situation of the shipwreck. The investigation results following the authors’ collaboration accentuate the importance of the interdisciplinary study in underwater research and the relevance of the specialized amateur divers’ commitment. They equally express the necessary development of a local profile institution.