The three survivors of the sinking were plucked to safety by an Italian navy helicopter on Friday afternoon, the navy said.
In a statement about the latest deadly incident, the Italian navy said that by the time a military plane had spotted the sinking dinghy, there were 20 people aboard.
It said a year ago, some 2,297 migrants died or went missing in the Mediterranean while 116,959 people reached Europe by sea.
Three survivors of the sinking of a rubber dinghy in the Mediterranean Sea off the coast of Libya say up to 117 other migrants were aboard at the time, a United Nations migration official said Saturday.
An International Organization for Migration spokesman said two children, including a two-month old, were among those presumed dead.
Since Italy's populist government came to power in June, Salvini, leader of the anti-migrant Northern League party, has closed Italian ports to humanitarian vessels.
The survivors said the migrants aboard the dinghy didn't have any.
The plane's crew launched two life rafts near the dinghy, which inflated, and a navy destroyer some 200 kilometres away dispatched a helicopter to the scene, the navy said.
Three people suffering severe hypothermia were pulled from the waters by a helicopter, and are being treated on the island of Lampedusa, he said. Libya-based human traffickers launch flimsy or rickety boats crowded with migrants hoping to reach Europe and its opportunities for better lives.
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Pope Francis has expressed sorrow over the lost lives of 170 people feared drowned in recent days in the Mediterranean Sea.
The Italian Coast Guard said Libya asked a nearby cargo ship to search for survivors but no one was found.
Before the spate of accidents this week, the IOM had already reported 83 deaths in 2019 as a result of people trying to cross the Mediterranean.
They told authorities that they had left Garabulli, east of Libya's Tripoli, on Thursday night but that the boat started sinking after 10 or 11 hours at sea. Over the past year, it has seen a reduction in the number of large-scale disasters - in part because smugglers have been using smaller boats for those trying to reach the continent.
Quoting Alarmphone, Sea-Watch had said earlier that the migrant vessel reported navigational problems and that a child among them was "unconscious or deceased".
He added: 'We can not turn a blind eye to the high numbers of people dying on Europe's doorstep.
Despite the cold weather, migrants are continuing to arrive in Italy through the Mediterranean by boat.
"As long as Europe's ports remain open, as long as someone helps the smugglers, unfortunately the smugglers continue to do business and continue killing", Italy's right-wing Interior Minister Matteo Salvini said.