Pilot John Morris and his two children were spotted by a local pilot after their plane lost communication and vanished.
Braving challenging conditions, around a dozen flyers were involved in Sunday evening's operation to look for the Piper PA-12 Super Cruiser.
Airman Terry Godes was expecting the worst when he ventured out on the rescue mission from Soldotna, Alaska.
But the next day, to his amazement, he spotted the pilot and his daughters alive on the aircraft's wing, visibly battling the elements.
The trio were taken to hospital with injuries not believed to be critical.
Telling how he initially spotted the wrecked plane, Terry said: "It kind of broke my heart to see that, but as I got closer down and lower, I could see that there's three people on top of the wing.
"They were alive and responsive and moving around."
Terry said the children gestured to him as he circled above Tustumena Lake. John had set off for a scenic flight towards Skilak Lake before getting into difficulty.
It was later revealed that the trio had clambered out of the waters to huddle on the submerged plane's wing for the night in the Alaskan wilderness.
Terry said: "They spe...