Fire department officials say most of those who died in Saturday's crash are 13 to 18 years old. One is an infant a few months old. Twenty-one people are reported injured.
Officials say the bus plunged roughly 500 feet (150 metres) into a ravine in a mountainous zone about 280 miles (470 kilometres) south of the capital.
The bus was carrying fans of the O'Higgins team back from a match the squad won against Huachipato de Talcahuan.
State television says the Chinese-made bus had no seatbelts for its 27 intended passengers and was intended only for urban use.