Witnesses saw the F-15 come down in a field off Broad Gate, Weston Hills, near Spalding at about 15:30 BST.
The plane has come down in an isolated rural area and no premises have been affected.
The two-seat F-15D Fighter 86-0182 from RAF Lakenheath in Suffolk crashed during a training exercise on Wednesday afternoon.
US military officials said the pilot had managed to eject before the crash at around 15.30 pm and had escaped serious injury.
A spokesman for the US Air Force’s 48 Fighter Wing said: “The pilot ejected and is safe.”
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