The incident happened on Barrowfield Street in the city's east end at around 6.45am on Sunday.
Police said inquiries were at an early stage.
A Police Scotland spokesman said: "At around 6.45am an 18-year-old man was struck by a van in Barrowfield Street in Glasgow.
"He was treated by paramedics, but died at the scene.
He has been named as Liam Hendry by locals and friends.
"A second man, aged 20 years, has also been seriously injured and has been taken by ambulance to Glasgow Royal Infirmary for treatment.
"His condition is described by medical staff as being critical.
"Extensive inquires to establish the full circumstances surrounding the incident are ongoing."
Anyone with information is asked to contact police via 101.