The plane was a red and white Steen Skybolt, a model used for aerial aerobatics.The pilot was the only person in the plane. He died at the scene.
The plane appeared to be experiencing engine trouble after leaving the Lacombe airport 11 kilometres to the north, RCMP said in a news release.
Investigators from the Transportation Safety Board of Canada are on scene and investigating.
Blackfalds is 140 kilometres south of Edmonton.