According to the initial reports, the tragedy happened when the TransAsia Airways plane was making an emergency landing in the city of Magong airport in Taiwan.
The ill-fated plane was flying from Kaohsiung to Penghu islands with 58 people on-board including 54 passengers and four crew members.
Seven passengers are reportedly injured in the plane crash.
Further details are awaited.
Last Thursday, MH17, a Malaysian airlines plane had crashed after being shot by a missile over the Ukrainian air space, killing all 298 passengers and crew.