The incident happened on the A26 in Little Horsted, near Uckfield, at around 11.18am and involved a blue Porsche Boxter and a grey BMW X1.
The driver of the Porsche, a 57-year-old man from South Chailey, died at the scene.
His next of kin has been informed and is being supported by specialist officers, police said.
The BMW driver suffered serious injuries and was taken to hospital. No other injuries were reported.
READ MORE: Man, 34, killed in crash
The road was closed for hours while officers investigated, but has since reopened.
A spokesman for Sussex Police said: “Investigating officers are keen to speak to anyone who witnessed the collision or who may have captured any footage of the incident.
“Contact police by emailing collision.appeal@sussex.police.uk, or by calling 101, quoting Operation Silver.”
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