The An-148 aircraft operated by Saratov Airlines went missing from radar shortly after take-off from the Moscow airport, according to the source.
The plane is understood to have been carrying 65 passengers and six crew.
A source told Russia’s Interfax news agency: “The airplane reportedly crashed outside Argunovo village in the Moscow region.
“The crew and passengers had no chance.”
The aircraft was heading for Orsk, a city close to the Russia-Kazakhstan border.
The Russian Emergencies Ministry said it is verifying reports that the An-148 has crashed outside Moscow.