The 48-year-old man who died was a resident of Rome, and the victim was 69 years old, AFP reports.
Egyptian officials said the two tourists were taken to a hospital in Port Ghalib, about 30 miles north of Marsa Alam.
Authorities said the Marsa Alam swimming area will be closed while the incident is under investigation.
According to data compiled by the independent Shark Research Institute, there have been four confirmed deaths from shark attacks in the past 10 years.
The last one happened in June 2023 near Hurghada involving a 24-year-old Russian.
