The clash took place at Podamari village last night over a dispute relating to gambling, they said.
The deceased was identified as Kalu Bisoi (20), who succumbed to injuries at M K C G Medical College and Hospital this morning, while the condition of other two injured persons was stable, police said.
No arrest has been made in connection with the incident as the accused persons are at large, they said adding efforts were on to nab them.