The footage, from 2010, appears to show a 'spot' moving quickly from frame to frame, causing the engineer who spotted the aberration enough alarm that he alerted the Chilean Government.
The UFO made an appearance during an acrobatic air-show at the El Bosque Air Force Base in Santiago, and apparently went un-noticed at the time.
Whether this is because this was due to advanced alien cloaking technology, or because the object is just an artifact on the film depends on your viewpoint.
Investigative journalist and UFO author Leslie Kean told MSN's Cosmic Log: 'This is a very, very unusual case, and I'm hoping that this case will help move forward the recognition that there really is something here that's worthy of further study.
'It has the possibility of being a breakthrough case.'
However 'debunker' Robert Sheaffer told the website: "They are "unexplained cases" only if you ignore the explanation.
'That's what's going to happen in this case.'
First, that humans would be unable to survive inside an object travelling at such speed, and second, that there was no sonic boom.
However, while Kean suggested the case could become 'the case UFO sceptics have been dreading', cynics were left unperturbed.
Astronomer Phil Plai told Cosmic Log: 'It's a tiny thing in a low-res video.
'If this is the best she [Kean] can come up with, dread is not exactly what I feel.'
Cosmic Log said that, for independent research to take place, the other six videos must be released, as well as details about the camera-men, and their relationship to each, in order to ascertain if a hoax had been carried out.
Other explanations could be an insect flying past the camera which, if close enough, coan apepar like a distant object flying at speed.
However, when asked this, Kean said: 'I went back to the CEFAA official re: the bugs, and he said that's what they all thought at first when they got the first film.
'But when they went and got additional footage from very different vantage points which showed the same thing, they knew that was impossible.
'I don't think they're that stupid to claim this is a UFO if it was a bug, given that so many experts looked at it.'
Kean said that CEFAA, the government agency which investigates strange air phenomena, found the object on seven separate pieces of video tape, which implies the object - whatever it is - is not an abberation on the video tape.
Ricardo Bermudez, CEFAA's director, told a UFO conference last month that the spots were caused by an object traveling at speeds in excess of 4,000 mph.
Kean picked out a few elements that make this sighting a little special, in particular that the Government investigated the footage so thoroughly, and found examples of the object on seven pieces of film.
Source: Daily Mail
