Inspector Kate Scott at Cambridgeshire police said officers were called to the scene of the skydiving collision near Peterborough at 3.42pm by the ambulance service to "reports of a mid air collision involving two parachutists".
The incident is being investigated by the British Parachute Association.
All emergency crews worked very hard together to try to save the life of one of the men involved but despite the best efforts of crews he was sadly pronounced dead at the scene.
Our sincerest condolences go out to his family and loved ones. We wish the second casualty all the best for a good recovery.
More top news
For the NHS to remain at the centre of our lives, it will have to change how it treats us or we will have to change how we treat it.
Pro-gun protesters met Barack Obama in Oregon as he arrived to console victims and affected families of the community college shooting.
A grandmother has been jailed for repeatedly stabbing her 5-year-old grandson because he didn't give her the remote control.