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.
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Both the pilot and the passenger died in the collision shortly before 5pm near Shaw Lane, Shifnal near Telford.
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