The duo was on Grand Central Parkway near 94th Street going westbound at 4:30 a.m. Tuesday when the driver lost control, according to police.
The 20-year-old passenger was rushed to Elmhurst Hospital where she was pronounced dead, cops said.
The driver was taken to the same hospital and was listed in stable condition with shoulder and leg injuries believed to be non-life threatening, authorities said.
The investigation is ongoing, but no criminality is expected at this time.
The identity of the passenger is pending family notification.