There was no confirmation that Prigozhin was physically on board and Reuters could not immediately confirm that he was on the aircraft.
"An investigation has been launched into an Embraer plane crash that occurred tonight in the Tver region. According to the passenger list, the name and surname of Yevgeny Prigozhin is among them," Rosaviatsia, Russia's aviation agency, was cited as saying by the state TASS news agency.
Russia's emergency situations ministry said in a statement that the aircraft travelling from Moscow to St. Petersburg had crashed near the village of Kuzhenkino in the Tver Region.
It said that 10 people had been on board, including three crew members. According to preliminary information, everyone on board had been killed, it said.