Police investigator Jose Alfredo Rodriguez says the 28-year-old driver was apparently drunk and fell asleep when he crashed into the race.
A photograph taken by a city official shows bicyclists and equipment being hurled high into the air by the collision.
Rodriguez says Juan Campos was charged with killing Alejandro Alvarez, 37, of Monterrey.
Authorities say the wreck happened 15 minutes into the 34km race Sunday along a highway between Playa Bagdad and Matamoros, across from Brownsville, Texas.
Campos says he is an American citizen living in Brownsville. US Consulate officials could not immediately confirm that.