An armored truck guard has died in hospital, just hours after he was shot in the face during an ambush in Houston.

The incident occurred Thursday afternoon in Pinemont while the victim - who has not yet been identified - was ambushed by three suspects during a money transfer outside a Popeyes restaurant.

According to Eyewitness News, each of the three assailants were armed and had their faces covered.

Police later told assembled press that the suspects are black males, and that two were armed with a pistol and one was armed with a rifle.

After shooting the victim, the trio fled the scene with a bag of cash in a gold SUV. It's currently unclear how much money they escaped with.

An armored truck guard has died after being shot in the face during an ambush in Houston on Thursday afternoon

The armored truck is pictured at the scene following the incident

One witness told Eyewitness News that he initially thought the gun shot was a firework, before he realized what had had happened.

'I ran towards the scene, I saw the guy and picked him up. He had a wound in his eye,' the witness stated.

He claimed the armored truck guard was only breathing 'once every five minutes' and that there was blood everywhere.

The victim was rushed to hospital but was pronounced dead a short time later.

Police later found the gold SUV dumped nearby, and it has now been transported to the Houston FBI field office for examination.

It's believe the suspects then transferred into a black Impala sedan, and they are still on the run.