Police and emergency services are currently on scene at a fatal collision in Yering.
Emergency services were called to Melba Highway, just north of MacIntyre Lane, about 2pm following reports of a two-car collision.
An elderly woman, who was the sole occupant of one of the vehicles, died at the scene.
The second vehicle, a ute, had two male occupants.
A man in his 30s was flown by air ambulance helicopter to The Alfred in a stable condition with upper and lower body injuries.
A man in his 20s was taken by road ambulance to Maroondah Hospital in a stable condition with upper body injuries.
Police will investigate the circumstances surrounding the crash.
Anyone who witnessed the collision or anyone with dash cam footage to contact Crime Stoppers on 1800 333 000 or submit a confidential report at www.crimestoppersvic.com.au.