The Isle of Wight Fire and Rescue Service was called to the airport at around 11.30am following reports the light aircraft was in distress.
A fire service spokesperson said the plane ended up on its roof and three people were being treated for shock and abrasions by paramedics.
No fuel has spilled from the aircraft, according to the spokesperson.
Air traffic investigators have been contacted and a request to close the Bembridge Airport runway has been made.
* The plane's owner, Jim Birnie, witnessed the crash, but said it was too early to know what had caused the accident.
He said the plane had been hired by a private pilot and had three locals — including the pilot — on board.
"They weren't injured and all walked away," he said.
The plane is badly damaged however.
The light aircraft upside down at Bembridge Airport. Picture by Chris Thwaites.
The scene of the crash. Picture by Ben Greenham