The tragedy took place between Petersfield and Haslemere, close to Liss station at around 10am today.
The victim, who has not been named, was pronounced dead at the scene.
The death is not being treated as suspicious while officers from the British Transport Police (BTP) are now working to identify the person and inform their family.
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The incident has caused widespread disruption to services across the area, including in Portsmouth and Havant.
A spokeswoman for BTP said the person’s gender will not be confirmed until the victim’s family have been informed.
South Western Railways have confirmed that services between Haslemere and Havant have been suspended in the meantime.
A spokesman said: ‘We received reports that a person had been struck by a train between Liphook and Petersfield. Our response teams have worked with the emergency services to assist with the incident, and all lines are now open.
‘Train services running through these stations may be cancelled, delayed or revised. Disruption is expected until 7pm.’