The two aircraft crashed over the central town of Inca at 1:35 pm (1135 GMT), the regional Balearic Islands government said on its Twitter account.
Everyone aboard the two aircraft -- two on the plane and five on the helicopter -- perished in the crash, a police spokesperson said.
A couple and their two children were aboard the helicopter along with the pilot, the spokesperson said.
At least 41 killed as Russian passenger plane crash-lands in Moscow
The helicopter was registered in Germany, "which doesn't necessarily mean the occupants were of this nationality," he said, stressing that an investigation into the victims' nationalities was still underway.
Police said the two aircraft crashed into a field.
Mallorca and the other Balearic Islands are popular with both Spanish and foreign tourists, especially in the summer season.
Spanish Prime Minister Pedro Sanchez expressed condolences to the victims' families, and said in a tweet that he was "following the news from... Mallorca with concern."
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ