According to Variety, a source close to the actor confirms the death.
ABC also reports they have confirmed the actor's death.
.@ABC News confirms "Fast and Furious" star Paul Walker has died at the age of 40
— ABC News (@ABC) December 1, 2013
According to TMZ:
The accident happened in Santa Clarita — north of Los Angeles — and according to multiple sources connected to Paul ... the actor was in a Porsche when the driver somehow lost control and slammed into a post or a tree
This story is developing.
UPDATE: Mediaite has an update regarding initial reports that the story was a hoax
UPDATE: From the actor's official Twitter
— Paul Walker (@RealPaulWalker) December 1, 2013
UPDATE: Via Variety:
A spokeswoman for the Los Angeles Sheriff's Department could not confirm the identities of the two victims nor confirm the cause of the accident.
Authorities said they responded to the crash at about 3:30 p.m. PT in the 28300 block of Rye Canyon Loop and found the car engulfed in flames. The victims were pronounced dead at the scene. The sheriff's department said the L.A. County Coroner's Office would determine the victims' identities and cause of death.
UPDATE: From the Santa Clarita Valley Signal
"Sadly I have to confirm that Paul Walker did pass away this afternoon," said Ame Van Iden, Walker's publicist.
The single-car crash occurred around 3:30 p.m. on Hercules Street near Constellation Road in the Rye Canyon Business Park, fire officials said.
The Santa Clarita Valley Signal also has a report from a witness who was on the scene, who said he recognized Walker inside the vehicle.
"Him and his buddy, his brother in arms at heart just decided to joyride, take a spin. Something we all do. We're all car enthusiasts. ... We're all here driving, enjoying each other, and God must've needed help," said Antonio Holmes, who said he was a friend of Walker.
"We all heard from our location (the accident). It's a little difficult to know what it was. Someone called it in and said it was a vehicle fire.
"We all ran around and jumped in cars and grabbed fire extinguishers and immediately went to the vehicle. It was engulfed in flames. There was nothing. They were trapped. Employees, friends of the shop. We tried. We tried. We went through fire extinguishers."
The site reports Walker was at Always Evolving Performance Motors, a business near the scene of the crash. The business held a toy drive and car meet on Saturday. Holmes told the Santa Clarita Valley Signal Walker was at the business, which he has ties to, supporting the cause. Another witness said Walker left in the vehicle sitting on the passenger side.
A sheriff's spokesperson described the scene of the crash:
At the conclusion of the accident the vehicle struck a light standard and the whole car was burned," a Los Angeles County Fire Department spokesman said. The two occupants of the vehicle were unable to get out in time, he said.
A sheriff's deputy at the scene said the Porsche driver appeared to have lost control of the car, which hit a tree.
Both a tree and a light standard were downed at the scene.
Image via Getty Images