Victor Hugo Hurtado collapsed in the 47th minute of Always Ready and Oriente Petrolero's Bolivian league game.
The match was played at Municipal Stadium in El Alto, 3,900m (12,795ft) above sea level.
Always Ready team doctor Eric Kosziner said the 31-year-old had a heart attack on the field and then a second, fatal attack as he arrived at the hospital.
Social media footage showed Hurtado fall backwards to the ground before players and team doctors rushed to help him.
