The jets, launched from RAF Lossiemouth in Moray, Scotland, are joined by a Voyager air-to-air refuelling tanker from RAF Brize Norton in Oxfordshire.
An RAF spokesman declined to provide further detail on the operation until it is over.
The RAF routinely intercepts aircraft approaching what it describes as the "UK area of interest."
In November 2021, jets were launched in response to Russian TU-160 Blackjack strategic bombers.
Officials said at the time the fighters escorted the Russian aircraft out of the "area of interest", and that the bombers did not enter UK airspace.