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The passengers were Cuban nationals living in the US and intended to "carry out an infiltration for terrorist purposes", the Cuban government says.
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In a statement posted online, Cuba's interior ministry said that the speedboat's passengers - the four who were killed and six others who were wounded, also Cuban citizens - opened fire on a coast guard vessel that approached them near an island off the country's northern coast on Wednesday.
The 10 individuals, some with previous criminal records, were armed and intended to "carry out an infiltration for terrorist purposes", the statement said.
US Secretary of State Marco Rubio said the US was also investigating the "highly unusual" incident.
The incident comes amid increased tensions between the US and Cuba, which is facing a deepening fuel crisis that has been worsened by the US blocking oil shipments from Venezuela.
Cuban authorities said the speedboat had entered its territorial waters.
The island nation's interior ministry identified the six surviving passengers, who have since been detained, and one passenger who was killed.
They added that most of them "have prior records involving criminal and violent activity".
Handguns, assault rifles and improvised explosive devices were recovered on the speedboat, according to the statement, along with other tactical gear.
The interior ministry also identified an eleventh person they said had been arrested and had confessed to being part of the alleged plot.
In an earlier statement posted on X, the ministry said the Florida-registered vessel - with the registration number FL7726SH - was detected near Cayo Falcones, in the country's central Villa Clara province on Wednesday morning.
When a Cuban boat carrying five members of the ministry's border guard approached the vessel for identification, "the crew of the violating speedboat opened fire" and wounded the Cuban commander, the statement said.
"As a consequence of the confrontation, as of the time of this report, four aggre
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