Undersea footage on Allen's website showed what were described as a valve, a catapult for planes, a gun turret and a starboard anchor.
It also showed the space on the bow for the Japanese empire's Chrysanthemum seal.
This is a unique feature of the three biggest warships that Japan built during World War II, according to Kazushige Todaka, director of the Kure Maritime Museum in Japan.
"I'm almost certain that what was discovered is the battleship Musashi," he said, adding the find had huge historical importance.
"There have been so many efforts over the years to locate Musashi, but they all failed. I feel like the warship might have been destined to show itself this year -- the 70th anniversary of the end of World War II," Todaka said.
"With the memory of war slipping further and further from people's minds, I hope this discovery will help make the public think about history."
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