A 70 year-old cab driver from Morningside has died after a shocking two-car head-on collision that closed the Story Bridge early on Friday morning.

The man died from injuries sustained when his taxi smashed into a hatchback on the bridge about 4.45am.

Police arrived at the scene to find him, and the female driver of the hatchback, trapped behind the wheels of their cars. Fire crews worked for an hour to cut them free.

Both the taxi driver and his 23-year-old male passenger from Norman Park were taken to the Princess Alexandra Hospital, the cabbie in a critical condition.