The CASA-235 reported an engine failure before crashing in Agustin Codazzi, about 370 miles (600 km) north of Bogota, CNN reported citing officials.
President Juan Manuel Santos wrote in a tweet, "We are sorry for this terrible accident . . . Our condolences to their families."
The Colombian Air Force, defense minister and chief of the armed forces also expressed sorrow to families and friends of the "heroes of the homeland."
The commander of the air force, Gen. Carlos Bueno, said that a team is being sent to investigate.