"The Dallas County Medical Examiner has confirmed 10 fatalities and no survivors," a spokesperson for the town of Addison told AFP.
The plane was heading for St Petersburg, Florida and was carrying two flight crew and eight passengers, Vice Chairman of the National Transportation Safety Board (NTSB) Bruce Landsberg said.
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There were few details on what caused the crash, which the NTSB is investigating, he said.
"There are any number of possibilities that could occur," Landsberg told a press conference.
Video broadcast by US media showed a massive column of black smoke pouring out of a building at the airport in Addison, as firefighters directed streams of water toward the blaze.
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The NTSB investigator in charge of the accident, Jennifer Rodi, said the plane, which had changed ownership recently, hit a private hanger at the airport.
CBS News quoted sources as saying the aircraft lost an engine on takeoff and veered into the hanger.
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