The children were being driven to Kajonkiet School and British International School (BIS) at about 6am in a Ford pick-up truck hired by their parents, with its driver, to take them to school.
The truck was in a head-on collision with a Pegas Tours Toyota Commuter minibus going in the opposite direction.
Kulnaree Rattu-Adachrachini, aged 9, a student at BIS, was thrown out of the cab of the pick-up and died instantly.
The truck driver was seriously injured and was rushed to Phuket International Hospital while the other four children, who were less badly injured, were admitted to Vachira Phuket Hospital.
The driver of the van, Makisan Samer, 28, had his left leg broken and was also taken to hospital.
This is the second time in two weeks that a Pegas vehicle has been involved in a deadly road accident. The first was on November 14 when two women on a motorbike were hit and killed by a Pegas bus at the intersectoion of Thepkrassattree Rd and the airport road.
Pegas, which specialises in Russian package tourists, does not own the vehicles, which are chartered by the company and repainted in its colours.
A video of the crash aftermath can be seen here.