The negatives were recovered by New Zealand's Antarctic Heritage Trust from a supply shack built by Capt. Robert Falcon Scott during his failed attempt to reach the South Pole in 1912.
Shackleton was attempting to make the first land crossing across the icy continent and had to seek refuge in the shack after his ship was blown away from the shore.
The negatives were found clumped together in a small box in the darkroom of Herbert Ponting, the photographer for Scott's expedition. After being taken to New Zealand, they were separated to reveal 22 photographs.
While it is not known who took the pictures, the trust said it was able to recognize multiple landmarks. According to Nigel Watson, the trust's executive director, the new photos are an "historic treasure."
"It's an exciting find and we are delighted to see them exposed after a century," Watson said.