A man has died after being struck and killed by a train at Fairy Meadow in New South Wales' Illawarra region this afternoon.

NSW Ambulance was called to Fair Meadow train station around 3:45pm this afternoon, following reports a man in his late 30s had been sucked under a carriage.

Five crews were dispatched to the scene and paramedics assessed two men while the third, the man who was struck, was declared deceased at the scene.

Emergency services raced to Fairy Meadow train station after receiving the call around 3:45pm. (Nine)

The two men were treated for minor injuries and extreme shock.

It is believed the men were allegedly playing "chicken" with the train prior to the accident.

Approximately 300 passengers were evacuated from the train and buses were brought in to replace services on the South Coast line in both directions.

Inspector Norm Rees, Duty Operations Manager at NSW Ambulance, said the accident presented a complex problem for emergency services.

Approximately 300 commuters were evacuated from the train onto replacement buses. (Nine)

"This is an extremely tragic incident for everyone involved," Insp. Rees said.

"Emergency services worked together under extremely complex circumstances and were able to evacuate the train and ensure commuters were safe.

"Paramedics assessed about 300 people – some of which were visibly distressed.

"This situation is devastating for everyone involved and has affected the lives of not only loved ones, but commuters and emergency services."