The tomb was found with well-preserved and colourful wall paintings depicting the woman, whose name was Hetpet, in a variety of scenes.
One includes two monkeys – common pets at the time – eating fruit and dancing.
Excavation leader Mostafa Waziri said: “Such scenes are rare… and have only been found previously in the (Old Kingdom) tomb of Ka-Iber.”
Hetpet was a priestess to Hathor, the goddess of fertility, and had close links to the Egyptian royals.
She would have lived around 2,400BC, and is depicted in her tomb both hunting and fishing, as well as sitting at a large table where she receives offerings from her children.
A purification basin engraved with her name and titles was also found.
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The tomb was discovered in Giza’s western cemetery.
Archaeologists will now continue to excavate the site and are hopeful that further tombs will be found.