Fire and Emergency New Zealand responded to the incident in Maori Rd about 2pm after the large tree broke off in the wind.
The entrance to the road, which runs beside Jubilee park, is blocked off.
Fenz Dunedin station officer Talea Uluakiola said it was a narrow miss for a woman who had just driven past where the tree fell."She could have been killed, she was very lucky to miss that tree,'' Mr Uluakiola said.
He said the tree was "very old" and had likely rotted from the inside.
"It happened pretty quickly," Mr Uluakiola said.
Fenz had informed the council about the situation, and council contractors were due to help remove the tree's remains.
The Dunedin City Council has been contacted for comment.