The two-vehicle collision occurred at around 10.50 this morning and involved two cars.
Police, ambulance, an air ambulance and firefighters attended the scene at Dalwhinnie.
The woman, who was the sole occupant of the northbound vehicle, collided with a car occupied by two adults and two children, who received treatment for non life-threatening injuries at the scene.
The road remains closed with local diversions in place via Dalwhinnie village. The identity of the woman won’t be released until next of kin are fully informed.
A Police Scotland spokesman said: “Drivers are thanked for their patience during the closure and asked to contact to Police on 101 if they have any information to assist the investigation.”