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According to a statement, the boat turned turtle at Prabhu Ghat in front of the Bhelupur police station here.
Of the four dead, three were residents of Tundla in Firozabad district. The boatman who died in the incident is a resident of Varanasi.
The dead have been identified as Sanjay (36), Imamuddin (30) and Anas (22), all residents of Tundla.
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Uttar Pradesh Chief Minister has announced a financial assistance of Rs 2 lakh each to the kin of the dead, officials said.