Dean Holland fell from the horse Headingley at a race at Donald about 1.30pm on Monday.
Paramedics treated him but he died at the scene, Victoria Police confirmed.
"Police will prepare a report for the coroner following the death of a jockey in Donald on 24 April," a police spokeswoman said.
"The male was riding in a race at a track on Racecourse Road when he fell around 1.30pm.
"He was worked on by paramedics but sadly died at the scene."
WorkSafe was notified and will investigate the death, which was not treated as suspicious, police said.
The Victorian Jockeys Association initially said Mr Holland was set to be airlifted to Melbourne after the fall during race one at the Donald meet, which left him with critical injuries.
A second jockey, Alana Kelly, was riding Time To Rumble and also went down, but was able to walk away from the fall, according to reports.
Racing Victoria Stewards announced the meet was abandoned about 2.40pm.
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