WASHINGTON—The Obama administration notified Congress it plans to sell Saudi Arabia up to $60 billion in advanced military aircraft, including F-15s equipped with bunker-buster bombs that Washington sees as part of an effort to contain Iran.

The package, the largest overseas U.S. arms deal to date, "supports our wider regional security goals in the Gulf" without undercutting ally Israel's military edge, Assistant Secretary of State for Political-Military Affairs Andrew Shapiro said.

"We...