The incident occurred in Zaida village of Swabi district.
"A K-8 trainer aircraft was destroyed in the crash, while both pilots ejected safely," PAF spokesperson Air Commodore SM Ali said.
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He further said a board of inquiry has been ordered by Air Headquarters to determine the cause of accident.
PAF training aircrafts often meet accidents.
Earlier this month, an army helicopter ferrying foreign envoys and their spouses crashed into a school in Gilgit's scenic Naltar Valley, killing at least eight people.
Last month, one of its Mirage aircrafts crashed in Balochistan during a routine training mission.
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