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A police highway patrol first attempted to stop the car travelling on the New England Highway at Aberdeen late last night after the car was seen travelling at a high speed.
The vehicle is alleged to have been stolen from a business in Wallsend just outside of Newcastle late yesterday afternoon.
The driver allegedly failed to stop when directed, leading to a pursuit which continued until the car crashed near Makybe Diva Street in Scone.
The 14-year-old driver and 17-year-old passenger in the front seat were trapped and released by paramedics.
The 17-year-old boy died at the scene.
The driver was airlifted to John Hunter Hospital in Newcastle, where he and three back seat passengers – two 14-year-old boys and a 25-year-old woman – are being treated for non-life threatening injuries.
Police established a crime scene, with the Crash Investigation Unit examining the circumstances of the incident.
A critical incident investigation team will also be investigating the incident.
Anyone with information about this incident is urged to contact Crime Stoppers.