One person has died and another is in hospital after the stolen Ferrari they were travelling in crashed into a metal barrier as they attempted to evade police in Perth.

Key points: The Ferrari sped away from police after it was spotted in North Perth

The Ferrari sped away from police after it was spotted in North Perth The luxury sportscar crashed about 100 metres away and burst into flames

The luxury sportscar crashed about 100 metres away and burst into flames One man escaped from the burning wreck but suffered serious burns

Police said the vehicle had been reported stolen from outside a cafe in West Perth about 10:20am this morning.

It was then spotted by officers stopped on Vincent Street in North Perth just after 11:30am.

"As they approached the vehicle to speak to the occupants, the vehicle accelerated away, crashed approximately 100 metres away, and caught fire," a WA Police spokesman said.

The luxury sportscar burst into flames after crashing on Vincent Street. ( Supplied: Nate Pintabona )

"One of the occupants, a man, was taken to hospital and is currently assisting with the investigation.

"A second occupant of the vehicle died at the scene."

The driver of the Ferrari escaped the vehicle, but the passenger died at the scene.

The survivor was arrested and given medical treatment at the scene before being taken to hospital with serious burns.

Officers from the Major Crash Unit and detectives from the Internal Affairs Unit remain at the scene, near the intersection of Charles Street.

The blaze sent thick plumes of black smoke across the busy intersection and nearby Beatty Park.

Linda Di Lello and her son, Max, were nearby when the incident took place.

"I thought they were gone. I thought they were dead for sure. Because it was instant — it was so big, the whole thing was engulfed," Ms Di Lello said.

"It was the scariest thing we'd ever seen and having it running through your mind, thinking is anybody else caught up in it … it's just the scariest thing to think about," Max said.

Inspector Dave Brierley said it was unclear what exactly caused the death, as the matter is subject to an inquiry.

"Attempts were made from car fire extinguishers which were unsuccessful as you can see from the car itself, it burned quite quickly and police were unable to get one of the people out of the car," he said.

"What we're looking for now, is if anyone in the vicinity that had dashcam, or has witnessed the scene and hasn't actually spoken to police yet, to please contact police on 1800 333 000, and any footage would be appreciated," Inspector Brierley said.

Police said road closures were in place and advised motorists to take alternate routes or expect delays.