Jay Muscat, 17, was spearfishing when a large great white shark, up to five metres long, attacked.
The 17-year-old was killed at Cheynes Beach near Albany, 470km southeast of Perth.
Friends remembered Muscat as a guy "who was always the life of the party".
Albany Police are currently investigating the circumstances surrounding the teenagers death.
According to The West Australian, the pair were spearfishing near a rocky outcrop known as Three Stripes.
"A worker at the local caravan park said sharks were not commonly seen in the area, except for a few bronze whalers," reported the newspaper.