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Emergency services were called to the scene, between Lake McKenzie Hut and Routeburn Falls Hut, about 12.45pm.
Police said the man - who was part of a guided walking tour - was reportedly seriously injured and a rescue helicopter was dispatched.
A paramedic on board the helicopter later confirmed the man had died.
Low cloud and high winds prevented the immediate recovery of the man’s body; however, this was completed about 7.30pm with the assistance of police and Search and Rescue volunteers from Queenstown.
His death will be referred to the Coroner, and Worksafe has been notified.