The victim and two other soldiers were taken to hospital after an M113 armoured personnel carrier rolled west of Townsville about 6.30pm on Wednesday.
The soldiers formed part of Townsville's 3rd Battalion, Royal Australian Regiment, an armoured infantry battalion with a lineage that can be traced back to 1945.
Battalion leader Brigadier Ben McLennan said the soldier had served the brigade for his entire seven-year military career and was a key mentor figure to younger troops.
An investigation into the accident, compromising commonwealth and army officials along with police, is under way.
Brig McLennan would not speculate on what had caused the crash.
"We were conducting a crew commander's course in the training area, it is a routine training activity for the 3rd Battalion," he said.
"We use this (vehicle) on a daily basis, it's a very reliable vehicle, and we keep its maintenance record in the highest possible standards."
The incident occurred during a training course at the Townsville Field Training Area.
Brig McLennan said the soldier was part of the army's response to the COVID-19 pandemic and he also contributed to Australia's partnerships with Papua New Guinea and Ukraine.
"He was known as a real character amongst his mates," he said.
"He was also known as someone who always put his service before himself. His memory will be cherished and honoured."
Defence Minister Richard Marles said the dead soldier's family, friends, loved ones and colleagues were in his thoughts.
"As a small, tight-knit community I know this will be felt right across Townsville and the entire Australian Defence Force," he posted on Twitter on Thursday.
"This is a tragic loss and the sacrifice of our service personnel weighs heavily on us all … all Australians are embracing the Townsville community and 3rd Brigade today."
Local MP and former 1st Brigade member Phillip Thompson said he was devastated to hear the news.
"This tragic loss will be felt through the brigade, army, Townsville and the wider defence community," the Afghanistan war veteran said.
RSL Australia said the tragic incident highlighted the risks faced by service personnel in training as well as in conflict situations.
Multiple paramedic units and a rescue helicopter attended the crash scene, Queensland Ambulance said.
One patient "with life-threatening injuries" was assessed at the scene.
A man in his 30s was flown to Townsville University Hospital in a stable condition with chest and abdominal injuries.
Another man in his 20s was driven to the same hospital in a stable condition with back injuries.
Both have since been released.
Two soldiers were killed in a truck rollover south of Townsville in August 2021.
The department was charged in September 2023 with breaching federal work health and safety laws over the incident.
Another incident at Lismore in northern NSW hospitalised 13 soldiers during a flood response when one truck rolled and another tipped on its side in March.
Lance Corporal Jack Fitzgibbon, the son of former defence minister Joel Fitzgibbon, was killed in March 2024 after a parachute training incident at the Richmond RAAF base in Sydney.
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