Incredible footage of a UFO almost colliding into a jet during an air show has emerged online.

The video was shot in Puerto Varas, Chile last Friday while the Chilean high aerobatics squad pulled off a series of stunts above a crowd.

While one of the Halcones Fach’s military planes zooned upwards, the hundreds of people gathered below noticed a disc appear out of nowhere.

And astonishingly it appears to narrowly graze the Air Force jet as it flashes across the sky.

The UFO can be seen flying across the path of the Air Force jet (Photo: Copyright unknown)

Since the bizarre moment, witnesses took to social media and online forums to report they had seen an unidentified object near the plane during the demonstration.

The footage has been posted on YouTube, and has racked up nearly 10,000 views – with many people speculating over what the object could be.

While some claim it is a spaceship, others suspect it might have been a meteorite or another plane, or even a passing bird.

Hundreds of people had gathered to watch the air show (Photo: Copyright unknown)

One person posted under the video: “Yesterday I saw a UFO in the sky – this was incredibly similar”.

Another commented: “I actually think there are two UFOs if you look carefully”.