The Associated Press was not immediately able to confirm the authenticity of the video, which was released on militant websites and bore the logo of the extremist group's al-Furqan media service.
Lt. Muath al-Kaseasbeh, 26, fell into the hands of the militants in December when his Jordanian F-16 crashed near Raqqa, Syria, the de facto capital of the group's self-styled caliphate. He was the first pilot from the U.S.-led coalition to be captured.
Following militant demands, Jordan's government had said it was willing to trade Sajida al-Rishawi, an al-Qaida prisoner, for the pilot. Al-Rishawi faces death in Jordan for her role in a 2005 hotel attack that killed 60 people.