State Highway 1 remained closed between State Highway 27 and State Highway 29 with diversions in place at these intersections. The roads were expected to reopen by 8pm.
A Waikato DHB spokesperson said the two passengers were last night stable and under observation in Tokoroa Hospital's emergency department.
A Westpac helicopter had been en route to take the critically injured person to Waikato Hospital but was stood down after the person died, a St John spokeswoman said.
The Serious Crash Unit is investigating the crash and the name of the driver who was killed would be released on Monday after next of kin have been advised.