A woman has died following a two-vehicle collision in Sea Lake near Swan Hill this afternoon.

Police believe the vehicles collided on Swan Hill-Sea Lake Road just before 12.30pm.

The yet to be formally identified female driver of the car has died at the scene, the two child passengers were not injured but will be taken to hospital for observation.

The yet to be formally identified male driver of the ute is being treated for non-life-threatening injuries.

An investigation into the collision is ongoing.

Police say anyone who witnessed the collision or with dash cam footage to contact Crime Stoppers on 1800 333 000, or submit a confidential report online at crimestoppersvic.com.au