At 7:15 p.m. Saturday police responded to the scene of the crash and located two vehicles down the embankment in the Indian River Waterway.
According to police, a silver Toyota traveling east on Walton Road came over the railroad tracks and struck a silver Chevrolet at the stop sign at the intersection of Walton Road and Indian River.
Both vehicles went down the approximately 30-feet embankment into the waterway.
Prior to going over the embankment a silver Toyota truck was clipped in the rear.
Three police officers and pedestrian went down the embankment to check the vehicles.
St. Lucie County Fire District arrived and assisted in extracting the drivers and bringing them back up the embankment on stretchers.
Both women were transported to a local hospital.
The woman who caused the crash was pronounced dead and the driver of the vehicle at the stop sign sustained serious injuries, according to police.