The crash occurred at around 14.00LT (12.00 GMT) on 24th June after the two jets collided mid-flight over a lake while on an air combat exercise. However, German broadcaster n-tv says it is.
One of the pilots was found alive hanging from a tree by rescuers near the village of Nossentiner Hütte, reports said.
Team Luftwaffe confirmed the news on their official Twitter page and also stated that the pilots were able to eject.
The pilot of the third jet observed and reported the collision, the German air force said.
The two planes went to ground about 10km apart, one inside a forest and the other on a field on the edge of some woodland.
Video footage has emerged showing the moment that a German Eurofighter jet plummeted to the ground following a mid-air collision in the northeastern German state of Mecklenburg-Western Pomerania.
The German air force said the jets were based in Laage, near the Baltic sea port of Rostock.
All three planes were part of the Tactical Air Force Wing 73 - known as Steinhoff - a fighter wing that specialises in general air defence and is the chief training centre for Eurofighter pilots in Germany.
Some 400 Eurofighters - made by a consortium of Airbus, BAE Systems and Leonardo, are in service with militaries around the world.
Police warned the public not to approach the potentially unsafe wreckage from the planes.
Witnesses told local media that the crash, which was at around 2 pm local time, caused a loud bang.
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