The jet crashed while on a training flight, an anonymous official at Yangon International Airport is quoted as saying in a news agency report.
The cause of the crash is yet to be ascertained.
The crash took place at the Air Force base which is right next to the civilian airport. The base uses the runway of the civilian airport.
The jet was a Chinese-made F-7 and is believed to be one of the 36 jets purchased by Myanmar in the 1990s.