The Joint Rescue Coordination Centre in Halifax said the crew of the Lady Angele put out a distress call about 2:40 p.m.
They were taking on water about 15 kilometres southwest of Cheticamp.
Captain and crew were all in a life raft when rescuers arrived less than an hour later.
Capt. Doug Keirstead is a public affairs officer with Joint Task Force Atlantic.
“All four crewmembers from the fishing vessel Lady Angele were recovered from the life raft by the Coast Guard cutter Pointe Claveau, and have now safely returned back to Cheticamp. At this point my understanding is that the vessel was taking on water and has since sunk,” he said.
A Cormorant helicopter was also dispatched from 14 Wing Greenwood as a precaution, but the fishermen were rescued before it arrived on the scene.