The accident at the junction of Rochor Road and Victoria Street involved a taxi, a car and a motorcycle.
Police and SCDF received calls about the accident at about 4.15am.
The driver of the Ferrari and the taxi driver were both trapped in their vehicles and had to be extricated by SCDF personnel.
The driver of the car, in his 30s, was pronounced dead at the scene by paramedics.
Four others sustained injuries and were sent to various hospitals.
The female passenger in the Ferrari, in her 20s, and the taxi driver, in his 40s, sustained head injuries.
The taxi's female passenger, in her 20s, was unconscious, while the motorcyclist, in his 20s, sustained spinal injuries.
Police are appealing for eyewitnesses to call its hotline at 1800-5471818.
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