It happened on Main Street North and Vodden Street East around 8:20 a.m.
Peel District Police said three vehicles were involved. The man was taken to hospital with life-threatening injuries but died shortly afterwards, police said.
No other injuries were reported.
It is not yet clear what caused the conflict.
The intersection is closed and the Office of Major Conflict is conducting an investigation.
Three vehicles – two with extensive damage – were visible at the scene on Thursday as investigators investigated the collision.
Police are urging people to avoid the area for now.