One US official said the Chinese plane was a People's Liberation Army Air Force KJ-200.
The two planes flew within 1,000 feet of each other in the general vicinity of the contested Scarborough Shoal in the South China Sea.
A spokesperson for US Pacific Command, which oversees US troops in the region confirmed, the incident, calling it "unsafe" in a statement provided to CNN.
"The US Navy P-3C was on a routine mission operating in accordance with international law," Major Rob Shuford said.
A second official said that the American P-3 had to alter course to ensure that there was not an aerial collision.
While the Navy considers the encounter to be "unsafe," it does not assess that any malign intent was behind the incident, though the event was considered serious enough to be raised up the chain of command.
The official called encounters between US and Chinese aircraft like the one that took place on Wednesday "extremely rare," noting that there were zero such incidents in 2015 and two in 2016. It was the first such instance of 2017.
Beijing has also created artificial islands in the area, outfitting some of them with military features.
The area around the Scarborough Shoal has been at the epicenter of the China-Philippines dispute over territorial claims in the South China Sea, with Chinese Coast Guard ships frequently operating in the area.
In Beijing, the state-run Global Times newspaper's website quoted an unidentified defence ministry official as saying that the Chinese pilot had responded in a "legal and professional manner."
"We hope the US side will focus on the relationship between the two countries and two militaries in their entirety, adopt concrete measures and eliminate the root causes of accidental incidents between the two countries on sea and in the air," the official said.
The need for the two militaries to keep an eye on each other could help explain the presence of surveillance aircraft like the P-3 and KJ-200.
During his confirmation hearings, Secretary of State Rex Tillerson suggested that the US should take a harder line in addressing China's assertiveness in the South China Sea.
On Monday, three Chinese Coast Guard ships entered waters near a chain of islands, called the Senkakus by Tokyo, which are claimed by both China and Japan in the East China Sea, according to Chinese and Japanese authorities.
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