Huntington Beach resident Ralph Abinader was riding in the sportscar when it jumped a median, slammed into a tow truck and burst into flames.
Firefighters responding to the collision found Abinader dead at the scene. The sports car broke into several pieces and they had to use special equipment to extract the car's other occupant.
Sgt. Jerry Lowe of the Newport Beach Police Department says the driver remains hospitalized today at Western Medical Center.
The accident was reported at 5:12 p.m. Thursday, near Pacific Coast Highway between Jamboree Road and Bayside Drive.
A man and a woman in the tow truck were treated for minor injuries.