According to the BNT, the MiG-29 fighter jet disappeared at 00:45 on Wednesday (21:45 Tuesday GMT).
A search and rescue operation was launched immediately and is still ongoing, the BNT reported. The operation involves units from the navy, the border police and the air force.
At the same time, the Sofia Globe news agency reported that the aircraft crashed into the Black Sea in the early hours of Wednesday. The life jacket of a pilot was reportedly found.
The Shaba 21 drills, during which the accident happened, was suspended, the ministry said.