Police say a man who slipped and fell into the water near the Jack Layton Ferry Terminal this morning has died in hospital.

It happened in the area of Queens Quay and Yonge Street at around 4:50 a.m.

According to police, at around 4:50 a.m., the man, who is believed to be in his 20s, accidentally slipped and fell into the water as he and his friends were getting some food at the end of the night.

Toronto Fire Capt. Adrian Ratushniak said the man's friends were unable to locate him in the water and called 9-1-1.

Rescue crews pulled the man out of the water nearly 20 minutes later.

He was rushed to hospital in life-threatening condition but later died in hospital.