It happened around 5:30 a.m. near the intersection with Berea Road.
According to the Kentucky State Police two cars were involved, each car containing just the driver.
The driver of the red pickup was 53-year-old Evelyn Applegate of Berea; she was transported to Baptist Health Hospital in Richmond where she was pronounced dead.
The other victim, the male driver of a Jeep, was also badly injured and taken to UK Medical Center.
A Kentucky State Police crash reconstruction team was on scene investigating.
Road conditions were very foggy at the time of the accident, but authorities do not know if that was the cause.