The family, from the Netherlands, had been reported missing on Thursday after going walking in the Vaud Alps.
They were found near the Rochers-de-Naye mountain on Friday morning around 300 metres below a steep path.
The 57-year-old woman, her 25-year-old daughter and her 22-year-old son had set off on a hike on Wednesday morning and had not been heard from since then.
Police said the mother and daughter had been on vacation in Switzerland while the son lived in the region.
The three victims have not been identified, in line with Swiss privacy rules.
Last May, three Dutch mountaineers who had been missing for days were found dead in the Swiss Alps.
Two men aged 32 and 40 and a 30-year-old woman had been hiking in the southern Swiss canton of Valais when they disappeared, according to local police.
He was hiking on a “difficult” track at a spot known as Nid d’Aigle - or ‘eagle’s nest’ - near the Bionnassay glacier when the tragedy happened, according to MailOnline.
The number of hikers dying while walking in the Alps has doubled in recent years, according to figures from the Swiss Accident Prevention Bureau.