However they insist his health "does not inspire any concern" adding he is continuing to work from his private luxury apartments.
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The news comes three days after Serge Telle, the city-state's prime minister, also tested positive for the virus.
The prince is being monitored by a personal doctor and specialists from the Princess Grace Hospital Centre, which is named after his late mother Grace Kelly.
Just two days ago he addressed the people of the principality on the French Riviera to speak about the killer virus sweeping through Europe.
During his speech he announced restrictive measures similar to those taken by Italy, Spain, and France over the past few weeks.
Only trips to work – if working from home is not an option– and trips to food stores or to the doctors are now allowed.
The 62-year-old also asked any group activities – whether indoor or outdoor – to be postponed in order to limit all contacts to within the immediate family.
The Monaco Grand Prix has already been cancelled along with several other events on the Formula One calendar because of virus fears.
Prince Albert said the no-nonsense measures were necessary and essential in order to face the worrying pandemic.
The upmarket enclave, where one in three people are belived to be millionaires, has fewer than a dozen cases of coronavirus.
It is unclear whether Albert’s wife Princess Charlene – a former Olympic swimmer – has been tested for the deadly disease.
Earlier today it was confirmed that EU's chief Brexit negotiator Michel Barnie has also tested positive for coronavirus.
Canada's Prime Minister Justin Trudeau is also in self-isolation after his wife tested positive .
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