The 26-year-old worker for Laing O’Rourke was rushed to hospital suffering serious injuries after the incident at Bramley Moore Dock 1pm on Monday.
Merseyside Police said: “He was taken to hospital where he was pronounced dead.
“His next of kin have been told and an investigation is under way.”
Everton FC said: “Everyone at Everton Football Club is heartbroken by the news a male worker has died following an incident at the Everton Stadium site at Bramley-Moore Dock.
“The thoughts and condolences of everyone connected with Everton are with his family, friends, and colleagues at this unimaginably sad time.
“Stadium contractor Laing O’Rourke has immediately launched an investigation and will work with the police and the Health and Safety Executive to establish the full details of the incident.”
A spokesperson for contractors Laing O’Rourke said: “We can confirm that earlier today a member of our team, who was carrying out work for one of our sub-contractors, was seriously injured in an incident. He was taken to hospital via ambulance, where he sadly died.
“We are shocked and saddened by today’s tragic incident and our thoughts are with the family and friends of the deceased man and our wider project team.
“The police and the Health and Safety Executive are on site and we have suspended work until further notice. We will cooperate fully with any investigation that follows.”