At 7.15am, Maj Rachan Panwai, an investigator from Phuket City police, and Kusolharm rescuers were called to the scene of the accident infront of the entrance to The Royal Residence on Chalermprakeat Rd in Rassada.
Upon arrival, police found the body of the deceased, identified as Pairat Rungpein, 61, lying in the road in a pool of blood. The other injured man was sitting on the roadside, and a damaged Honda Scoopy motorcycle was found about 50 meters away.
Both the men are reported to have worked as security guards at the K.T Company.
A witness told police that he saw the two men on the motorcycle driving into oncoming traffic on Chalermprakeat Rd. The motorcyle collided with a vehicle which was driving on the inside lane.
The witness was unable to state the make, model or colour of the vehicle.
The impact of the collision caused the motorbike to bounce 50 meters down the road, and Mr Pairat, who was the passenger, was killed instantly having suffered a broken neck.
The car involved in the collision failed to stop after the incident and sped away towards the Toyota Pearl intersection on Thepkasttri Rd in Koh Kaew.
Police are currently looking at CCTV footage from the area to see if they can identify the vehicle.
Rescue workers took Mr Pairat's body and the survivor to Vachira Phuket Hospital.