Simon Speirs, a retired solicitor from Bristol, south- west England, was washed over the side of his vessel, which was competing in the Clipper Round the World Race yesterday.
High winds in the Southern Ocean separated Spiers from his yacht, and it took 36 minutes to get him back on board.
"Simon was on the foredeck assisting with a headsail change from Yankee 3 when he was washed overboard," organisers said.
"Although he was clipped on with his safety tether, he became separated from the yacht in the Southern Ocean in a rough sea state, in 20 knots of wind, gusting 40.
"However, Simon sadly never regained consciousness and was pronounced deceased."
Organisers said that Speirs was given a sea burial "following medical advice and all considerations".
The yacht is now on its way to Fremantle.
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