Bryant, 41, and Gianna, 13, were traveling in a private helicopter when it came down and burst into flames.
The LA county sheriff said there were no survivors.
Bryant, a five-time NBA champion, played for the LA Lakers throughout his career and is considered one of the greatest players in the game’s history.
Tributes from celebrities and fellow sports stars have been pouring in, many expressing shock at his sudden death.
Moments of silence have been observed at basketball games across the US.
Bryant has also been remembered at the Grammy Awards which are being held at the Los Angeles Lakers’ stadium.
“We’re all feeling crazy sadness right now,” said Grammys host Alicia Keys.
“Because earlier today Los Angeles, America, and the whole wide world lost a hero. We’re literally standing here heartbroken in the house that Kobe Bryant built.”
The NBA issued a statement saying it was “devastated by the tragic passing of Kobe Bryant and his daughter, Gianna”.
“For 20 seasons, Kobe showed us what is possible when remarkable talent blends with absolute devotion to winning,” it said.