The plane, which had children on board, is believed to have been found nine miles from Tynday airport in the Amur region, in the eastern part of the country. The Ministry of Emergency Situations said the fuselage of the aircraft was on fire. Following the sighting, rescuers were scrambled in search of survivors.
The An-24 turboprop aircraft, which is operated by Angara Airlines, fell off radar close to Tynda Airport in Amur, south east Russia.
As it reached its destination (Tynda), the pilot failed to check in and air traffic control lost all contact with the aircraft.
The plane was carrying 49 people. Six of them were crew members and another five of the passengers are said to be children. All are believed to have died in the crash.
Ahead of reports of the finding of the wreckage, the Russian Ministry of Emergency Situations released a statement on the disappearance of the plane.
A spokesperson said: "Search underway for An-24 plane in Amur Region.
"In Amur Region, several kilometers from Tynda airport, an An-24 passenger plane of Angara Airlines disappeared from radar and failed to respond to contact.
"It was flying the Khabarovsk-Blagoveshchensk-Tynda route.
"Preliminary, there were about 40 people on board.Rescuers from the Russian Emergencies Ministry have been sent to the site to search. Further information is being clarified."
Welcome to our live blog. We'll bring you the latest on the plane crash that happened early today in Russia.
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