The man, identified by the Italian press as 29-year-old Adam Conejo, fell near Castel Sant’Angelo on the Tiber’s right bank at around 4:00 pm on Sunday.
He was taken to hospital but died shortly afterwards, according to Italian daily La Stampa.
The Corriere della Sera reported that the man was sitting on the top of the embankment, talking to his wife and some friends, when he lost his balance while turning around.
He fell several metres onto the bank below, which was bustling with tourists and locals.
Italian authorities have confirmed an autopsy will be carried out to establish if the man could have fallen due to illness.
Codacons, an association for consumer rights and the defence of the environment, has previously called for safety barriers to be installed along the top of the Tiber embankment in order to prevent more falls.