"The crew abandoned the jet," the Russian defence ministry said in a statement, adding that the Tu-95 bomber was not carrying a combat payload at the time of the crash.
Crew members, who were taking part in a training flight outside the far eastern city of Khabarovsk, apparently managed to parachute out, the defence ministry said, citing the crew of a second plane training in the area.
A search was underway for survivors.
"The jet crashed in a desolate area, there is no damage on the ground," the defence ministry said in its statement carried by Russian news agencies.
Over the past weeks, the Russian military has reported a string of accidents that has raised questions about the safety of the country's military aircraft.
In June, the army reported an accident involving a similar TU-95 jet whose engine caught fire during take-off in the far eastern Amur region.
Earlier this month, two pilots of a Sukhoi Su-24 aircraft were killed when it crashed during a training mission in the far east of the country.
Get Breaking news, live coverage, and Latest News from India and around the world on NDTV.com. Catch all the Live TV action on NDTV 24x7 and NDTV India. Like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.