Named locally as Craig McDonald, the 35-year-old father was the driver and sole occupant of a blue Vauxhall Astra that collided with a tree after it left Agivey Road in the Kilrea area at around 8.40pm on Monday evening.
The road was closed for a time and motorists were advised to avoid the area, but it has since reopened.
Mr McDonald is from the Limavady area and tributes were paid to him by one of his closest friends, Peter Wilson.
“I’m grateful for all the laughs and memories we had together throughout the years and I’ll cherish them forever, he’ll be missed deeply by everyone,” Mr Wilson told the Belfast Telegraph.
“He was one of my best mates for years and some of the things we got up to, and the mad nights we had, will never be replaced. He is my brother from another mother.”
Many people online have since paid tribute to the deceased.
His parents, Robin and Rosh McDonald, shared the tragic news, stating: “RIP son”.
Sinn Féin councillor Sean Bateson said the death has stunned the community.
“I wish to extend my deepest sympathy to the family and friends of the man who died on the Agivey Road yesterday,” he said.
“I have no doubt the entire community will rally around to support all those affected in what will be difficult days ahead.”
SDLP MLA Cara Hunter added: “I am heartbroken to learn this morning of the tragic death of a 35-year-old man following a road accident last night in Kilrea.
“I have no doubt that this will be a devastating and life-changing loss for his family and friends and I am sure that the local community will rally around them and offer their support in the coming days, weeks, months and years ahead.
“I am appealing to anyone in the area who may have knowledge of the accident to go to the PSNI and share any information they may have.”
Funeral arrangements are to be announced later.
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