Rodeo officials have identified the victim as 19-year-old Coy Lutz.
Authorities say the bareback rider was trampled during his performance on Saturday night in Woodstown, Salem County.
Cowtown Rodeo owner Grant Harris told NJ.com this was the first time a rodeo participant had died from injuries suffered in the event. He says Lutz's parents were among the crowd of 2,200 attending the rodeo and they witnessed the accident.
Harris says the horse Lutz was riding tossed him and then stepped on him several times.
The teen from Hopeland, Pennsylvania, was taken to a local hospital where he was pronounced dead.
"Cowtown Rodeo and The Harris Family extend our heartfelt and sincere condolences to the Lutz Family for the tragic loss of their son, Coy," the Cowtown Rodeo posted on Facebook.
Saturday was opening night of the rodeo.
Cowtown touts itself as the oldest weekly running rodeo in the U.S. It opened in 1929.
The Associated Press contributed to this report