A MAN has died in a horror skydiving accident in the Lockyer Valley west of Brisbane yesterday afternoon.

The man, believed to be in his 60s, died after he jumped from a plane about 3.50pm (AEST) and both his main and reserve parachutes failed to open.

The accident happened on Curtin Rd in Crowley Vale. He had been jumping with Ripcord Skydivers.

An organiser from the skydiving business, Phillippa Bates, said the man was an experienced skydiver. He had jumped more than 1000 times previously.

"Like most other adventure sports we're aware skydiving is potentially dangerous," she said.

She said Ripcord Skydivers would release a statement this morning about the accident.

A Queensland Police Service spokeswoman said the man died on impact.

"For whatever reason his parachute has failed to deploy and he has died at the scene," she said.

According to Dropzone, a website recording skydiving fatalities, there have been no other skydiving fatalities in the world this year, making this latest tragedy the first for 2012.

Only one fatality was recorded last year in Australia, when a 40-year-old man jumped from a plane in Victoria but collided with a fellow jumper.

According to the Ripcord Skydivers website, the main parachute will automatically open after one has jumped from the plane.

"If you choose to jump solo you will depart from the plane at 3500 feet. Your parachute will automatically open moments after you jump," the site said.

Investigations into the accident are continuing.