The Police Serious Crash Investigation Unit was investigating the crash on behalf of the Coroner.
No further information would be released about the man who died until family members have been advised and a formal identification has been carried out.
A spokeswoman for the park said the driver was a regular user of the track. It costs between $1000 and $6000 to book the track for the day, she said.
Hawke's Bay Club members participating in the track day were required to pay $150 to take part and any car was eligible including classic, vintage, sports cars and family saloons.
Participants were required to wear helmets and fireproof apparel. The vehicles must be registered, warranted and mechanically safe and the race cars must comply with Motorsport NZ regulations, the club's website states.