Police were called to the collision just after 11.40pm. It occurred near to a self storage facility outside Stratton.
The incident involved two vehicles — a white Toyota Hilux and a blue Peugeot 306.
The driver of the Peugeot died at the scene. He has been named by police as 26-year-old Sebastian Claydon from Bude.
The driver of the Toyota, from Holsworthy, was taken to hospital with minor injuries and shock.
The road was closed until 7am the following day while investigations at the scene took place.
Police are appealing for any witnesses to the collision to come forward.
They are particularly keen to speak with anyone who may have witnessed the collision or saw either of the vehicles just prior to the collision.
Anyone with information is asked to contact MPC Hogg at Bodmin Traffic Unit on 08452 777444, quoting log reference number 887/07/05/10.