Two drivers have been killed in a head-on collision north-west of Melbourne this morning.

Police say officers who had intercepted a vehicle at Toolern Vale saw another vehicle speeding along Diggers Rest-Coimadai Road.

That vehicle then collided head-on with another car travelling in the opposite direction, killing both drivers.

Neither have been formally identified.

A passenger travelling in the first vehicle was taken to hospital with minor injuries.

Major Collision Investigation Unit detectives are investigating the fatal incident.

The investigation will be overseen by the Victoria Police Professional Standards Command because the collision occurred after police contact.

Anyone who witnessed the incident or who has CCTV or dashcam footage is urged to contact crime stoppers on 1800 333 000 or submit a confidential report online.