“Both pilots were able to activate their ejection seats”, the spokesman from the airforce's Squadron 73 said.
One of the two pilots was found alive shortly after the crash which happened at 2pm, national news agency DPA reported, adding that a search was underway for the second airman.
The crash took place near Lake Müritz, about 120 km north of Berlin, in the state of Mecklenburg-Western Pomerania.
Based in Laage, close to Baltic Sea city Rostock, Squadron 73 trains German airforce pilots to fly the Eurofighter.
Witnesses shared video footage of two smoking areas, reportedly about 10 kilometers apart. Local media reported that part of the wreckage fell on the area of Malchow. Police warned people not to approach.
Authorities confirmed the planes were not carrying ammunition.