The couple, named locally as Anthony and Delia Green from the south of Scotland, are understood to have died along with taxi driver Juan Sillero when their car was swept away by a torrent of water near the coastal resort of S’Illot.
Authorities on the popular tourist island said 10 people, three of them foreigners, died when torrential rain deluged the region around the town of Sant Llorenc, about 40 miles east of the capital Palma.
In a statement issued through the Foreign Office, the family of Delia and Tony Green, who were among 12 people who died in flash flooding in Majorca, said: “We are deeply shocked by the sudden passing of our parents Delia and Tony Green in the tragic events in Majorca.
“They were travelling out to Majorca for a two-week holiday when they were caught up in the flooding.
“Delia and Tony were a loving, kind and caring couple. They were at their happiest when they were with their family and friends.
“They recently celebrated 55 years of marriage. Originally from Atherton, Greater Manchester, they retired to Moffat fourteen years ago.
“Tony, a retired head teacher from Lancashire, worked in Germany and later in Grantham.
“Delia and Tony got a taste for travel with Cala Bona recently becoming a regular destination. They were looking forward to their latest adventure abroad.
“The family take some solace from the knowledge that they died together.
“Our thoughts also go out to their taxi driver and his family who are coming to terms with their loss as well. They will all be missed by everyone who knew them.
“We would like to thank everyone for the love and support shown to our family as we come to terms with losing our parents. We would very much appreciate privacy at this most difficult of times.”
Friend Emilio Dicerbo said everyone in Moffat, Dumfries and Galloway, where the couple lived for more than 10 years, would be “devastated” by their deaths.
The 84-year-old retired ice cream merchant said: “They were a very friendly, lovely couple.
“Tony would always get out a bit to the shops most mornings and we would have a blether.
“He liked to go have a game of pool, he loved his wee bit of potted plants outside his front door - he did tend his plants, very neat and tidy.
“He was a (retired) publican and head teacher.
“When Delia was out she would always have a blether, but she was very limited (due to bad health).
“They were a very friendly couple, just normal.
“Everyone will be devastated. Just the kind of characters they were - very friendly.”
He said the couple, who were aged in their 70s and originally from England, were visiting the Spanish island for a holiday.
Some parts of the island received up to 9in (23cm) of rainfall in a matter of hours on Tuesday evening.
Witnesses described having minutes to find safety as the water levels rose, inundating houses and catching motorists off guard.
The floodwaters tore down trees, swept numerous cars and trucks into piles of twisted metal and buried streets under mud.
Mr Green, 77, and his wife, 75, were being driven to a hotel in Cala Bona when the taxi was caught in the floodwaters, Diario de Mallorca reported.
Rescue workers reportedly found the car submerged and on its side at the mouth of the torrent in S’Illot at 2am (1am BST) on Wednesday.
Military divers found the couple’s bodies still inside, while Mr Sillero was later found lifeless nearby, the paper said.
A Foreign Office spokesman said: “We are supporting the family of two British people following their deaths in Spain, and will do all we can to assist them at this deeply difficult time.
“Our staff remain in contact with the Spanish authorities who are responsible for responding to the floods, and are ready to assist any other British people who require our help.”
Spanish authorities said 80 soldiers and seven vehicles from the military’s emergency unit had joined more than 100 rescuers deployed in the area on Wednesday.
Meanwhile tennis star Rafael Nadal, who is from the island, was seen joining in with the clean-up effort.
The world number one invited locals to take shelter at his tennis academy in nearby Manacor and then donned boots to join other volunteers.
“Sad day in Majorca,” the 30-year-old said on Twitter.
Spanish PM Pedro Sanchez called news of the flooding “devastating” as he visited the area on Wednesday.
He said: “My solidarity and support goes out to the families and friends of victims and all the affected by these tragic floods,” he said.