The call came in around 2 p.m. in the area of Seacliff Road where a boat was found washed ashore.
Police say the boat, being operated by a 73-year-old man, was traveling westbound in the Great Egg Harbor Inlet when he lost control.
The incident sent the boat operator and his passenger, 59-year-old Philip Azzante, into the water.
State Police and the U.S. Coast Guard were able to recover both victims, but Azzante did not survive.
The boat operator was rushed to Shore Medical Center for unknown injuries.
The accident remains under investigation.