The northbound accident was at 02:30 BST between junctions 11 and 12, near the Oxfordshire and Warwickshire border.
Motorists were held on the road overnight. It reopened at 14:30 BST.
West Midlands Ambulance Service said: "Sadly nothing could be done to save the driver of one lorry, a man, and he was confirmed dead on scene."
The statement added: "A second lorry driver, a man in his 50s, was found to have sustained minor arm injuries and neck pain.
"He was given treatment by ambulance staff before being discharged on scene.
"A third patient, with minor injuries, was treated by our South Central colleagues."
One man was killed and two people were injured in a crash involving three lorries and a car on the M40.