Police say the accident happened last night when a 28-year-old man in a Volvo crossed the centre line and smashed into a Honda.
The driver of the Honda was pronounced dead at the scene.
The 28-year-old man in the Volvo was transferred to hospital in Victoria where he's in serious condition.
Both men are from the Campbell River area.
Police say they're investigating the possibility of speed and alcohol as contributing factors in the crash on the part of the Volvo driver.