The collision, which was reported to Central Scotland police at 7.45am, involved a van and three cars on the A876 north of the bridge, near the Kilbagie roundabout.
The bridge is closed in both directions and is expected to be closed for up to six hours. Officers are on site dealing with the incident and a full investigation is currently underway.
Fire and ambulance crews attended, as did a trauma team from Forth Valley Hospital.
The Scottish Ambulance Service confirmed that the trauma team attended to the fatality, who was trapped in a vehicle, and three persons were taken to Forth Valley Hospital, where two were boarded and the other was described as "walking wounded".