The crash, involving a white Ford Transit van, happened shortly before 7.30pm on Wednesday near the A31 junction with Station Road.
A male cyclist in his 40s and from Hampshire was taken to hospital with life-threatening injuries but died later.
His next of kin have been informed.
The van driver, a man in his 20s and also from Hampshire, was unhurt. He was later arrested and is being interviewed at a police station about the collision.
Both carriageways on a section of the A31 near Bentley were closed for a short time while emergency services responded.
The Surrey-bound side of the A31 remained closed until after midnight on Thursday morning while police combed the scene for evidence.
A Hampshire Police spokesman said they would like to thank everyone who has assisted with the investigation so far.
Officers are appealing for further witnesses to the collision itself or the movements of a white Ford Transit van and a bicycle shortly before the crash.
Anyone with information should contact the serious collision investigation unit at Eastleigh police station on 101, quoting Operation Realm, or call the Crimestoppers charity anonymously on 0800 555111.


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