A woman has died and a man is on the run following a crash in Sydney’s south-west on Sunday morning.

The female passenger was left fighting for her life after the Mitsubishi EVO she was in and a Honda CRV collided on Warwick Road in Punchbowl at around 11am.

A woman is fighting for her life at the Liverpool Hospital after a collision earlier today. (9NEWS)

She was taken to Liverpool Hospital in a critical condition but died just after 6pm.

The woman was not carrying ID and is yet to be identified.

Police are hunting the driver who fled on foot. (9NEWS)

CCTV footage from the crash showed the moment the white Mitsubishi, which was displaying stolen number plates, raced along Warwick Road, failed to make the bend and smashed into the Honda.

The driver leaned over to the female passenger as witnesses rushed over to help, while he also exited and entered the car a number of times.

The crash occurred just before 11am on Warwick Road. (9NEWS)

He then gathered his belongings and walked away from the scene.

Sergeant Brett Samuel from NSW Police’s Crash Investigation Unit said police have deployed Polair and the dog squad to search for the driver.

“The only description we have is a male aged between 20 and 30, wearing dark clothing,” Sgt Samuel said.

The 45-year-old driver of the other car, a Honda SUV, was also taken to hospital with minor injuries. (9NEWS)

The 45-year-old female driver of the Honda SUV suffered minor injuries and was taken to Bankstown Hospital for treatment. She has since been released.

Police investigations are continuing.

“We’d urge the driver or anyone with information to come forward,” Sgt Samuel said.