Maj. Gen. Mohamed Tamah died at a hospital in the southern city of Adan, where he was treated following Thursday's attack, the source told DPA on condition of anonymity.
Tamah was among several senior army commanders injured in the strike, which targeted the al-Anad air base in the southern province of Lahj during a military parade. Five Yemeni soldiers were also killed.
The attack raised fears of further fueling Yemen's four-year war, which has claimed thousands of lives and pushed the country to the brink of famine.
Yemen, one of the Arab world's poorest countries, has seen a power struggle between a Saudi-backed government and Iran-backed Houthi rebels since late 2014.
Thursday's attack came almost a month after the government and rebels reached a truce on Hodeida, Yemen's key port city, at United Nations-brokered peace talks in Sweden.
- In Yemen, After Four Years of Catastrophic Conflict, Is Peace Finally on the Horizon?
- Iran-backed Houti Rebels Launch Deadly Drone Attack on Yemen Military Parade
- Food 'Stolen From Mouths of Hungry People' in Houthi-held Areas of Yemen
Both sides have since accused each other of breaching the cease-fire.