The acft lost part of one blade of the propeller during the climb to cruise phase of operation. The passengers were skydivers so they used their parachutes in an exit of the acft as the airframe started to vibrate. The plt made a successful landing on the arpt without power. All the jumpers landed safety. Visual examination of the propeller showed that the blade had separated 10 to 12 inches outboard from the blade root. The fracture exhibited evidence typical of high cycle fatigue and overload stress.