Praia dos Pescadores - or Fishermans Beach - on Portugal's Atlantic coast, is around 25 miles from Lisbon and is popular with tourists and surfers.
The man, who was in his 40s, and the woman in her 30s were apparently taking a picture on top of a wall that overlooks Pescadores beach in Ericeira when they plunged to their deaths between 1 a.m. and 6 a.m.
A couple said to be from Australia and the United Kingdom were presumably taking a picture on a 30-meter-high wall overlooking a picturesque beach when they allegedly lost their balance and fell off a cliff in Portugal.
According to AFP, it is not the first time tourists have fallen from the high stone wall.
"It seems they dropped their mobile phone and fell down while leaning over to retrieve it".
It's thought the tragic fall happened between 1am and 6am on Tuesday local time.
The newspaper reported that Rui Pereira da Terra, a captain with the local naval authority, told broadcaster TVI that authorities believe the pair fell when trying to recover a phone or to take photographs on the wall.
Local media reported the pair were both Australian, however, the Department of Foreign Affairs and Trade said one Australian had died, and the department had been in contact with its British counterpart over the second death.
Pescadores Beach, which translates to Fisherman's Beach, is ringed by cliffs and a wall of up to 40m high.
A spokesperson for the DFAT said it was "providing consular assistance to the family of an Australian who died in Portugal".
The couple's bodies were taken to a medical centre while authorities contacted the Australian and British embassies in Lisbon.
"Owing to our privacy obligations we will not provide further comment".