A police spokeswoman said the incident happened about 1.50pm on a rural property in Earnscleugh.
In an update this afternoon police confirmed the death.
An Otago Daily Times reporter earlier saw a funeral director at the scene.
The reporter said it appeared the tractor had rolled while on a driveway on a vineyard on Earnscleugh Rd opposite Marshall Rd.
Police and a single Fire and Emergency New Zealand (Fenz) appliance were at the scene. Another fire appliance was earlier stood down.
A Fenz spokesman said one appliance was at the scene dealing with chemical that was on the back of the tractor.
Police said WorkSafe had been advised, and the death would be referred to the Coroner.