Versace was killed outside his home exactly 24 years ago -- on July 15, 1997.
Miami Beach police went to The Villa Casa Casuarina Hotel, as the late designer's home is now known, about 1:20 p.m. after getting a call from housekeeping about the bodies being found.
Miami Beach Police spokesperson Ernesto Rodriguez said Thursday morning that investigators believe the two men died by suicide.
"At this time, the scene is contained to the hotel room and detectives have launched a death investigation," police said Wednesday.
The ultimate cause of death will be determined by the Miami-Dade Medical Examiner's Office, Rodriguez said.
Versace's family sold the building in 2000.
He had bought the house in 1992 and spent $33 million on improvements such as a south wing expansion, the pool and garden, listing agents said when the property was put on the market again in 2012.
To get help in the US, call the National Suicide Prevention Lifeline at 1-800-273-8255.
The International Association for Suicide Prevention and Befrienders Worldwide also provide contact information for crisis centers around the world.
Miami Beach police believe 2 men found in the former Versace mansion died by suicide - CNN
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