The plane, an Antonov-26, descended near the eastern city of Kharkiv as it landed.
The plane was carrying cadets from the Kharkiv Air Force University and was on a training flight. Emergency ministry officials say 27 people were on board.
Two people were injured and a search operation continues overnight for three missing persons.
The cause of the accident is currently under investigation.
The plane descended about two kilometers (1.2 miles) from a military airport in the city of Chuhuiv, according to emergency ministry officials.
A fire broke out at the site and subsequently went out.
“It’s a shock,” Deputy Interior Minister Anton Gerashchenko told AFP news agency. “For the moment, it is impossible to establish the cause. “
President Volodymyr Zelensky said he would visit the region on Saturday and a commission was being set up to investigate what happened.