A Victorian cyclist killed in the NSW Southern Tablelands was riding in a Sydney to Melbourne event.

A passing motorist found the 67-year-olddead on a road near the small town of Bungonia, east of Goulburn, just before 10pm on Sunday.

Audax Australia Cycling Club confirmed the death in a statement on its website, saying the man died during the Sydney Melbourne 1200.

"The ride organisers are helping police with their investigation," the statement said.

"The ride organisers and the wider Audax community extend their sympathies to his family and friends at this very sad time."

Police said the circumstances of the incident on Oallen Ford Road were unclear.

"It is possible the cyclist was struck by a vehicle which left the scene, collided with wildlife, or came off his bike for some other reason," police said.

Chief Inspector Brendan Bernie said the cyclist had sustained fatal head injuries.

"He was discovered at 10pm, but we do not know at this point what time the actual accident occurred," he said.

The man was one of more than 40 riders who set off from under the Sydney Harbour Bridge on Sunday morning.

The remaining riders made their way to Canberra and were heading over the Snowy Mountains before crossing the Murray River and travelling through Victorian farming country to Melbourne.

They're expected to arrive in Melbourne on Thursday.

A police spokesperson said the man's family had been notified and inquiries were continuing.

UPDATE: 11.17am

Chief Inspector Brendan Bernie further confirmed that the deceased cyclist was from Victoria and that he sustained fatal head injuries in the accident. 

He also said the accident occured on the Oallen Ford Road, 2km south of Lumley Road. 

UPDATE: 11am

Police have confirmed a cyclist found dead on the Oallen Ford Road, near Bungonia is not from Goulburn, but say more information of the crash will not be forthcoming until crash investigation is completed

Detective Inspector Chad Giles told the Goulburn Post that investigations into the accident are continuing. 

“Crash Investigations began their investigations last night,” Mr Giles said. 

“At this stage we can confirm the deceased is not from Goulburn. 

“We do not know if he has come off his bike, or has been clipped by another vehicle or has hit wildlife and I cannot comment further on that until I have had a briefing from the Crash Investigations Team.

“I am not sure what their initial findings are at this stage, and it has not been confirmed, but we believe he may have been cycling with a group earlier in the day but was by himself at the time of the incident.

“He was discovered at 10pm, but we do not know at this point what the time of the actual accident occurred.

“In regards to his injuries, we will know more after the Post Mortem is conducted. They will determine what injuries were sustained. I believe this Post Mortem will be held in the next couple of days. 

“So at this stage, we are seeking assistance from the public to try and ascertain exactly what has occurred. We are appealing to anyone with information as we are still just exploring what has led to the death of this fellow.” 

EARLIER

Police are seeking more information about a cyclist’s death on Sunday night.

Just before 10pm, police were called to Oallen Ford Road, Bungonia, east of Goulburn, after a 67-year-old male cyclist was found deceased on the roadway.

Police from The Hume Local Area Command attended and established a crime scene. Officers from the Crash Investigation Unit were also called and conducted inquiries.

A spokesman said at this stage the exact circumstances of the incident were unclear. Police said it was possible the cyclist was struck by a vehicle which left the scene, collided with wildlife, or came off his bike for some other reason.

They are appealing for any witnesses or anyone who may have information on the circumstances to contact police immediately.