Rolling Meadows police responded to the crash at West Algonquin Road and Magnolia Drive just after 4:30 p.m.
Two vehicles were involved in the crash, and one rolled over, police said.
One person was pronounced dead at the scene, and another person was critically injured. A third person was treated for non-life-threatening injuries.
Algonquin Road is closed between Barker and Route 53 while police investigate.
Further information was not immediately available.