The 29-year-old, is thought to have died after the Yacht ploughed into another boat which was anchored in the bay area.
Maritime police and emergency services personnel rushed to the incident at around 9pm on Saturday evening.
The man is understood to have suffered a heart attack.
A maritime agency source said: “Medical stuff tried to resuscitate a 29-year-old British man but he was declared dead following a cardiac arrest.
“He was a crew member on the Minx, a yacht that was at anchor in the Cannes bay area. The other yacht involved was the Vision, which was manoeuvring at the time.”
On the Mix and Vision yachts seventeen passenger were evacuated.
The investigation is being launched with the Maritime Prosecutor of Marseilles and Maritime Gendarmerie Research Brigade.
This is a breaking news story, more to follow.