Neil Fears, from Belper in Derbyshire, was reported missing by his fellow divers on Tuesday after he failed to surface.
The 51-year-old's body was recovered near the wreck of the SS Stanfield, near La Manga, about three hours later.
It is not yet known why the experienced diver failed to surface.
His daughter Cerys said: "He was always there if I needed him for whatever situation, he'd do anything to look after his family."
Mr Fears was a director of IT firm Davidson Richards in Derby.
"He was very hardworking and could be very determined," his daughter added.
"My boyfriend said he was strong and ambitious, but he was also very kind and caring, generous and very clever."
Mr Fears had been diving with three others and was paired up with one of them.
A spokesperson for the Guardia Civil in Murcia said the paired diver had "turned to his partner and realised he wasn't there".
The divers had been using equipment which regulated oxygen supply and pressure, depending on the user's depth under water.
This meant they had to return to the surface regularly, but Mr Fears failed to do so as planned.
The daughter of a British diver who died while exploring a World War One shipwreck off the coast of Spain has paid tribute to her "caring" father.