China is locked in a territorial dispute with four Southeast Asian countries - including Washington allies Vietnam and the Philippines - and the US in October sent a warship near the disputed Spratly Islands chain, arguing for its right to freedom of navigation.
Singapore and Washington stressed the need for a strong US military presence in the region, where the plane was deployed yesterday and will remain until December 14.
The plane's deployment "would promote greater inter- operability with regional militaries through participation in bilateral and multilateral exercises", the statement said.
The deployment would also support disaster relief and maritime security efforts, it added.
A separate statement from Singapore's defence ministry said both ministers "reaffirmed the importance of a strong US presence in the Asia-Pacific in ensuring regional peace and stability".
Regional diplomats said the deployment of the sophisticated spy plane is likely aimed at sending a message to China about Washington's resolve to oppose what they describe as Beijing's aggressive moves in the South China Sea, including its building of artificial islands in the disputed waters, through which much of the world's trade passes.
The P-8 aircraft is a modified Boeing 737 jet equipped with advanced sensors and radar designed to gather intelligence and hunt down submarines.
A CNN crew aboard a P-8 Poseidon aircraft that flew from the Philippines over the artificial islands in May said they received repeated warnings from the Chinese navy to leave the area. China claims almost all of the sea, including waters close to the shores of smaller Southeast Asian states.
Singapore is not a claimant, but officials in the city-state say it has an interest in the freedom of navigation because of its open, trade-dependent economy.
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