"The Federation Internationale de l'Automobile (FIA) regrets to advise that a serious incident involving cars #12, #19 and #20 occurred at 17:07 on 31/08/19 as a part of the FIA Formula 2 Sprint Race at Spa-Francorchamps, round 17 of the season," a statement read.
"The scene was immediately attended by emergency and medical crews, and all drivers were taken to the medical centre.
"As a result of the incident, the FIA regrets to inform that the driver of car #19, Antoine Hubert (FRA), succumbed to his injuries, and passed away at 18:35.
"The driver of car #12, Juan-Manuel Correa (USA), is in a stable condition and is being treated at the CHU Liège hospital. More information on his condition will be provided when it becomes available.
"The FIA is providing support to the event organisers and the relevant authorities, and has commenced an investigation into the incident."
Drivers, commentators and the wider motorsport community were quick to express their condolences on social media after the tragic news was confirmed.
F1 world champion Lewis Hamilton paid a heartfelt tribute to Hubert on Instagram and called on fans to better appreciate the dangers of racing.
"God rest your soul Anthoine," Hamilton wrote. "My prayers and thoughts are with you and your family today.
"If a single one of you watching and enjoying this sport think for a second what we do is safe your (sic) hugely mistaken.
"All these drivers put their life on the line when they hit the track and people need to appreciate that in a serious way because it is not appreciated enough.
"Not from the fans nor some of the people actually working in the sport. Anthoine is a hero as far as I'm concerned, for taking the risk he did to chase his dreams.
"I'm so sad that this has happened. Let's left him up and remember him. Rest in peace brother."
On Twitter, former F1 star Jenson Button wrote: "Devastating news from Spa today, the super talented Anthoine Hubert succumbed to his injuries after an accident in today's F2 race. Rest in peace Champion."