No one among over the 70 people on board were injured in the incident that took place around 0545 hrs, airport sources said.
The ATR 72 turbo prop aircraft, operating flight 9W 2654, abandoned take off after the pilots saw the alarm on the cockpit flight panel.
The flight panel indicated fire on the right engine of the aircraft, the sources said, adding the aircraft returned to the bay where the passengers were deplaned.
A Jet Airways spokesperson said the flight from Delhi to Bhopal had a "precautionary rejected take off at Delhi due to engine fire warning".
The ATR aircraft has been grounded at Delhi for inspection by the Jet Airways engineering staff, the spokesperson said.
All the guests were deplaned safely and taken back to the terminal buildings. The aircraft has since been changed and duly departed for its destination at 0850 hrs, the spokesperson said.