The Finance Ministry is trying to cancel the lease of the 408-foot (124 meter) MV Savarona after the scandal stunned the nation.
Turkey's press expressed outrage after police found that the historic yacht, which was once used by the country's founding father Mustafa Kemal Ataturk, had been used by an international prostitution ring.
Hurriyet newspaper, citing prosecutor Yusuf Hakki Dogan, said authorities followed the ship for seven months prior to this week's raid in which 13 girls, including two minors, from Russia and Ukraine were detained along with several men from Central Asia.
"This is the man who defiled the Savarona," headlined the popular Milliyet daily next to a picture of Kazakh businessman Tevfik Arif, the alleged leader of the ring, who was among the detainees.
The yacht was anchored off the popular tourist resort of Fethiye when the raid took place.
Police also detained eight alleged members of the network and four businessmen from Russia, Kyrgyzstan and Kazakhstan who were believed to be clients, the Anatolia news agency reported.
According to Hurriyet, Arif, who made his fortune by investing in real estate in New York, had rented the yacht for four to five days at a daily rate of $50,000 (37,000 euros).
On Wednesday, Tourism Minister Ertugrul Gunay proposed that the vessel be turned into a museum, while Finance Minister Mehmet Simsek gave assurances that the yacht's lease would be terminated as soon as possible.
"We should be ashamed of having rented out the yacht, which is part of Ataturk's legacy, to a businessman for a few cents," columnist Yavuz Semerci wrote in the Haberturk daily.
Built in 1931, the Savarona was purchased in 1938 by Turkey. Ataturk spent six weeks on the yacht before he passed away in November that year.
After his death, the navy used the vessel as a training ship before it was leased out to a Turkish businessman in 1989 for 49 years.
Ataturk, who proclaimed modern-day Turkey in 1923 on the ashes of the Ottoman Empire, is seen as a national hero and revered by many to this day. His legacy is protected under a special law.