The wreckage of a wartime U.S. aircraft carrier has been found off the coast of eastern Australia by a crew led by Microsoft co-founder Paul Allen.

The Lexington, which has been credited with helping protect Australia from a potential Japanese invasion during World War II, was found Sunday roughly 800 kilometers off the coast of Queensland in northeast Australia.

The aircraft carrier went down with 216 of its crew and 35 aircraft during the Battle of the Coral Sea in May 1942.

(Photo courtesy of Paul Allen)

Although the rough location of the wreckage has been known for some time, it was finally found some 3,000 meters deep and photographed by the expedition crew of the research vessel Petrel.

"To pay tribute to the USS Lexington and the brave men that served on her is an honor," the billionaire philanthropist said in a statement.

(Photo courtesy of Paul Allen)

"As Americans, all of us owe a debt of gratitude to everyone who served and who continue to serve our country for their courage, persistence and sacrifice."

Allen's team released photos and video of the well-preserved ship and aircraft wreckage, including an image of a fighter plane with four Japanese flags painted on the side, presumably showing the number of enemy "kills."

Nicknamed "Lady Lex," the Lexington took on three Japanese carriers in the Battle of the Coral Sea, along with the Yorktown, another carrier, in the first "carrier vs. carrier" battle in history.

In total the Imperial Japanese Navy sank three U.S. ships, including the Lexington, and damaged the Yorktown. The Japanese lost one light carrier and another carrier suffered significant damage.

(Photo courtesy of Paul Allen)