The accident took place at around 2.30am yesterday night.
The vehicle was being driven by Luke Cassar, an 18-year-old and a reserve goalkeeper for Hiberians FC, in the direction of Marsa.
Civil Protection personnel were called to get the driver and the 20-year-old passenger, Manric Yeomans, from the vehicle. The driver was rushed to hospital but was found to be dead on arrival while the passenger was certified dead on site by Dr David Fenech from the Floriana health centre.
Duty magistrate Dr Anthony Vella was informed and appointed a number of experts to help in the inquiry.
The accident is being investigated by the Hamrun district police.