The picture was from an Arabian Nights themed party from 2001. In the picture obtained by Time Magazine, the Canadian Prime Minister is seen wearing skin-darkening make up during the gala.
The picture is from Mr Turdeau's time at West Point Grey Academy in Vancouver.
As reported by the magazine, a spokeswoman for the Canadian Liberal Party, Zita Astravas, confirmed that Mr Trudeau was in the picture.
In the statement, Ms Astravas said: "It was a photo taken while he was teaching in Vancouver, at the school’s annual dinner which had a costume theme of ‘Arabian Nights.’
"He attended with friends and colleagues dressed as a character from Aladdin."
The Canadian Prime Minister is also planning to address the picture in a press briefing to the media according to Ms Astravas.
However, the Prime Minister's direct official director of communications did not respond with a comment.
The yearbook photo was obtained from Vancouver businessman, Michael Adamson who gave the picture to Time Magazine.
Mr Adamson was not at the party which was attended by school faculty members, administrators and parents of students.
The release of the picture comes as Mr Trudeau began his re-election campaign on September 11.
Moreover, the current Canadian Prime Minister has been faced a recent alleged scandal over claims that he pressured a then attorney general to drop corruption charges against a Canadian engineering firm.
More to follow...