It happened on Main Street North and Vodden Street East around 8:20 a.m.
Peel District Police said four vehicles were involved. The man was taken to hospital with life-threatening injuries but died shortly afterwards, police said.
No other injuries were reported from the crash.
A woman was taken into custody in connection with the clash, but police did not immediately say why.
“I can tell you that an adult woman was taken into custody as a result of the conflict. However, charges are pending. “And as we know, the investigation is still early,” said Const. Donna Maurice told reporters at the scene.
Maurice said it was still too early to say what caused the collision.
“It’s early in the investigation and the Office of the Great Depression will take this into account – it will look at all the boulevards in terms of speed, direction, slip signs, all this information,” he said.
Three vehicles – two with extensive damage – were visible at the scene on Thursday as investigators investigated the collision.
The intersection is closed and is expected to remain closed for several hours as the Office of Major Conflict investigates.
Police are urging people to avoid the area for now.
They also ask anyone with information to show up.
“We are asking anyone who may have been in the area at the time of the incident to contact our investigators if they heard or saw anything in the area or anyone in the area who may have been through the camera video,” Morris said. “If they can contact our investigators or if they want to remain anonymous, they can contact the Crimestoppers.”