Developed simultaneously with the Jagdpanzer Kanone, the Jagdpanzer Rakete (also known as the RJPz-2) used a nearly identical hull but had the gun removed from the glacis plate and was armed instead with twin SS.11 wire-guided anti-tank missile launchers. These had a range of between 500 and 3,000 m and were capable of penetrating up to 600 m of rolled homogeneous armor. A total of 14 such missiles were carried inside the hull. The RJPz-2 featured the same armor protection of the JPz 4-5 (a maximum of 50 mm) and secondary armament was identical except for the fitting of the co-axial machine gun from the mantlet into the bow. NBC protection was also retained. Another prominent feature was a large periscope on the hull roof which enabled the missile controller to keep track of the missile. By the 1970s the RJPz-2 had reached obsolescence but further development led to the replacement of the SS.11 by the more advanced HOT and (later) TOW ATGMs, in addition to the fitting of appliqué armor. These modernizations continued well into the 1980s but all RJPzs have since been retired from Bundeswehr service.

Like the JPz4-5, prototypes were built by both Hanomag and Henschel, both of which shared equally the production run of the definitive RJPz-2. During the 1970s it was decided to convert obsolete units into HOT missile platforms, while adding extra armor. These conversions were known as the RJPz-3 Jaguar 1. A further upgrade during the mid-1980s resulted in the RJPz-4 Jaguar 2, with TOW (later TOW-2) missiles as well as new optics and thermal imaging systems.