The accident happened in the southern lanes of the highway near Finch Avenue.
Police said the collision resulted in a 29-year-old driver being thrown from their vehicle.  The driver was taken to hospital, where they were pronounced dead.
The cause of the collision is unknown, but police said eyewitnesses said the driver was racing in another car before the incident.
Police are looking to talk to the driver of the second vehicle, which they believe was a white Honda S2000.  They added that the vehicles did not come into contact during the obvious race.
Police also ask anyone with information to contact investigators at 416-235-4981 or Crime Stoppers anonymously at 416-222-8477 (TIPS).