"On October 17 a MiG-29 fighter crashed at 10:45 Moscow time [06:45 GMT] 60 kilometers [37 miles] from the Domna airfield in the Chita Region during a regular training flight," the statement said.
"The pilot ejected safely and is currently in a satisfactory condition," it said.
The Air Force said there were no reports of casualties or damage on the ground and a special investigation team had been sent to the crash site.
Air Force spokesman, Col. Vladimir Drik later announced that flights of MiG-29 fighters around the country would not be suspended as a result of the Siberia crash.
The MiG-29 is a fourth-generation fighter which entered service with the Russian Air Force in 1983. It has been widely popular on foreign markets gaining a reputation as a highly-agile and reliable aircraft.
According to various data, over 1,600 MiG-29 fighters are currently in service with the Russian Air Force and around the world.
Friday's crash is the first reported occurrence in Russia involving a MiG-29 fighter in 2008, although two MiG-29s crashed in Kazakhstan and Azerbaijan earlier this year in separate incidents.
Last year, two Russian Air Force MiG-29 fighters were involved in a mid-air collision over the Rostov Region. Both pilots bailed out safely.
