The incident, which also involved two motorcycles and a car, happened on the A6006 at the junction of Loughborough Road, at around 10.45am on Saturday.
One of the motorcyclists, a man in his 60s, was sadly pronounced dead at the scene.
The other rider sustained minor injuries and was taken to the Leicester Royal Infirmary for treatment.
The occupants of the car, a silver Toyota Avensis, were not injured.
The A6006, at its junctions with Loughborough Road and the B676, remained closed for a lengthy period to allow for an investigation of the scene.
Det Con Kasie Carter, from Leicestershire Police’s serious collision investigation unit, said: “We would like to hear from anyone who may have witnessed the collision itself or saw any of the vehicles being driven beforehand.
“If anyone has dashcam installed in their vehicle and captured what happened we would ask them to please get in touch.”
Anyone with information and who has not already spoken to officers can call 101 quoting incident 197 of September 19.