The man was admitted to Pok Oi Hospital after experiencing difficulties in breathing and cardiac arrest. He was certified dead later that day.
The man who was a security guard at the City University of Hong Kong has a history of hypertension.
He received the Sinovac shots at the Tin Fai Road Sports Centre on March 8, and there was no record that the man complained of feeling unwell during observation at the Vaccination Centre.
Department of Health said the case would be referred to the Expert Committee on Clinical Events Assessment Following Covid-19 Immunisation.
So far, Hong Kong has recorded 14 deaths after receiving coronavirus vaccines, 12 of which received Sinovac jabs, while the other two received BioNTech vaccines.
Several countries, including France, have suspended flights to and from Brazil due to fears over the more contagious coronavirus variant spreading there.