Avery James Greene, from Cork, was rushed to hospital in the resort of Alicante around 8am yesterday morning.
However, he passed away this morning in what is being treated as a tragic accident.
Four police officers initially found Avery unresponsive and “very cold”.
They performed emergency resuscitation, but the child showed no signs of life.
Avery’s family are originally from Cork city but now live in the town of Mallow.
Councillor Paudie Dineen told Cork Beo: “We know the family very well, my wife Sandra grew up with the boy’s mother Amanda, they were like sisters.
“It is a very tough time for everyone and our thoughts and prayers are with the families at this very tough time.
“Everyone is just thinking of them at this tough time and they have our full support.”
The Department of Foreign Affairs and the Irish Embassy in the Spanish capital of Madrid are currently assisting the family.
They said in a joint statement: “The Department of Foreign Affairs and Trade stands ready to provide consular assistance to any Irish citizen in distress abroad.”