Victoria Police media officer Hannah McDonald said a man was attempting to perform a U-turn at the intersection of Skipton and Lake Roads about 8.30am when a truck travelling north along Skipton Road collided with the ute.

She said the driver of the ute, a 27-year-old Beaufort man, died at the scene.

The passenger, a 24-year-old Ballarat man, was conveyed to hospital.

The truck driver is assisting police with their enquiries.

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Earlier Ambulance Victoria spokesman Paul Bentley confirmed an air ambulance was en route to the accident on the Skipton Road a few kilometres outside of Beaufort.

One driver in his twenties with neck and shoulder injuries and facial lacerations was taken by road ambulance to the helicopter landing point and flown to Melbourne.

Details of the other driver are not yet known

All emergency services are on scene.