Shane Mann drove the #21 Safe Direction Aussie Racing Car.
Track action was briefly suspended in the wake of the medical incident in the Aussie Racing Car paddock area, while the category’s race later in the day did not take place.
Motorsport Australia confirmed late on Saturday that the competitor involved had died, with confirmation of his identity following on Sunday morning.
Mann, 50, had finished 12th in the weekend’s opening race aboard his Safe Direction Racing Mustang.
Aussie Racing Cars competitors were spotted sporting stickers and helmet visors paying tribute to Mann.
“We’re very sad to report we lost one of our great drivers in the field in Shane Mann,” reported Matt Naulty on the TV broadcast.
“All of the cars in the field this morning are carrying some tribute stickers. There will be a tribute for race number 4 later on today, a parade lap and the front row will be left still.
“Our thoughts are with the Mann family, a very, very sad day here not just for the category but for our little, tight family that is motorsport.
“We are thinking of the family and the Aussie Racing Car paddock today.”