The incident happened on a farm in Llanfair Caereinion on Tuesday at around 11.30am.
Dyfed-Powys Police have confirmed that the man's family has been informed, and a spokesman for the police force said: "Our thoughts are with the family at this time."
The Welsh Ambulance Service has also confirmed it sent paramedics to a farm on Tuesday morning.
A spokeswoman for the service said: "We were called at approximately 11:25am on Tuesday to an incident on a farm in the area of Llanfair Caereinion.
"We sent one paramedic in a rapid response vehicle, one emergency ambulance and the crews were supported by Wales Air Ambulance."
The Health and Safety Executive are aware of the incident and are assisting police with their enquiries.