Devon and Cornwall Police were called to the statue of General Buller in Exeter at 23:40 BST on Saturday.
The 18-year-old, from the Exeter area, was climbing on the 15ft (4.5m) statue - a well known landmark which depicts General Redvers Buller on horseback, mounted on a large granite plinth - when he fell.
He suffered serious neck and back injuries and died in hospital.
More on statue fall and other Devon stories
A man has died after falling from a city centre statue late at night.