On the afternoon of October 12, 1940, Mix was driving his 1937 Cord 812 Phaeton near Florence, Arizona, (between Tucson and Phoenix) on Arizona State Route 79. Mix had been visiting Pima County Sheriff Ed Nichols in Tucson,[4] and had stopped at The Oracle Junction Inn, a popular gambling and drinking establishment, where he had called and spoken with his agent, when he came upon construction barriers at a bridge previously washed away by a flash flood. A work crew watched as he was unable to brake in time, and his car swerved twice then rolled into a gully, pinning his body beneath.[4] A large polished aluminum suitcase containing a large sum of money, traveler's checks and jewels, which he had placed on the package shelf behind him flew forward and struck Mix in the back of the head, shattering his skull and breaking his neck. The 60-year-old actor was killed almost instantly. Eyewitnesses said Mix was traveling at 80 mph before the accident.[4] A small stone memorial marks the site of his death on State Route 79, and the nearby gully is named "Tom Mix Wash". The plaque on the marker bears the inscription: "In memory of Tom Mix whose spirit left his body on this spot and whose characterization and portrayals in life served to better fix memories of the old West in the minds of living men."
Following a funeral at the Little Church of the Flowers, Tom Mix was interred in the Forest Lawn Memorial Park Cemetery in Glendale, California. He was 60 years old.
Tom Mix was "the King of Cowboys" when Ronald Reagan and John Wayne were youngsters and the influence of his screen persona can be seen in their approach to portraying cowboys. When an injury caused football player John Wayne to drop out of USC, Tom Mix helped him get a job moving props in the back lot of Fox Studios.
Tom Mix made 291 movies throughout his career.[2] As of 2007, only about 10% of these were reportedly available for viewing, although it was unclear how many of these films are now considered lost films.
For his contribution to the motion picture industry, Tom Mix has a star on the Hollywood Walk of Fame at 1708 Vine Street. His cowboy boot prints, palm prints and his famous horse Tony's hoof prints are at Grauman's Chinese Theatre at 6925 Hollywood Boulevard. In 1958 he was inducted posthumously into the Western Performers Hall of Fame at the National Cowboy & Western Heritage Museum in Oklahoma City, Oklahoma. In 1959 a 'Monument To The Stars' was erected on Beverly Dr. (where it intersects with Olympic Blvd. and becomes Beverwil) in Beverly Hills. The memorial consists of a bronze-green spiral of sprocketed "camera film" above a multi-sided tower, embossed with full-length likenesses of early stars who appeared in famous silent movies. Those memorialized include Douglas Fairbanks, Mary Pickford, Will Rogers, Conrad Nagel, Rudolph Valentino, Fred Niblo, Tom Mix, and Harold Lloyd. There is a Tom Mix museum in Dewey, Oklahoma and another in Mix Run,Pennsylvania. Between 1980 and 2004, 21 Tom Mix festivals were held during the month of September, most of them in DuBois, Pennsylvania.