A woman pulled from the Waikato River following a crash in the weekend has died.

It was initially reported that the woman died at the scene of the crash at the intersection of State Highway 1 and Shakespeare Street on Saturday, but police later reported the 60-year-old woman was taken to Waikato Hospital in a critical condition.

Police have confirmed today that the woman died in the hospital's intensive care unit on Monday afternoon.

The man who was in the vehicle with her when it crashed into the Waikato River is in moderate condition in Waikato Hospital.

The ute the pair were in plunged 10 metres into the river near Cambridge.

Bystanders who witnessed the crash rushed to the scene to help.

The Police Serious Crash Unit is investigating.