USA Today Reports.
Minister Liow Tiong Lai said on Twitter that Malaysia is working with Australian counterparts to retrieve the debris.
"Based on early reports, high possibility debris found in Mozambique belongs to a B777," he tweeted. "I urged everyone to avoid undue speculation as we are not able to conclude that the debris belongs to #mh370 at this time."
Investigators in Malaysia, Australia and the U.S. have examined photographs of the debris, and say there is a good chance it came from a Boeing 777, according to NBC News.
NBC News quotes unidentified sources as saying the object has the words "NO STEP" on it and could be from a plane's horizontal stabilizer that is attached to the tail. An American who has been blogging about the search for the MH370 found the debris, according to NBC News.
Flight MH370 disappeared on March 8, 2014, while en route from Kuala Lumpur to Beijing.
A spokesman for Australia's Joint Agency Coordination Center, which was established to coordinate that country's investigation of the missing plane, tells CBS News that the center is aware of the debris and is working with officials in both Malaysia and Mozambique to identify it.
Mozambique is in southeast Africa on the southern Indian Ocean, 1,200 miles west of Reunion Island, where a "flaperon" from the ill-fated plane washed up in July.