Named as Thomas Channon, the 18-year-old is the third Briton to die after falling from a balcony at the same resort this year.
Mr Channon, from Rhoose in Wales, reportedly fell from a 20m (65ft) raised walkway at the Eden Roc complex in Magaluf on Thursday.
It is understood the fall took place in the early hours after Mr Channon became separated from his group on a night out.
The group had travelled to the popular tourist resort to celebrate finishing their A-level examinations.
A spokesman for the Foreign Office said: “We are assisting the family of a British man who has died in Mallorca, and are in contact with the Spanish authorities.”
Mr Channon’s death follows that of Thomas Hughes, 20, from Wrexham in north Wales who also died after falling from a walkway in Magaluf.
In April, Natalie Cormack, 19, from West Kilbridge in North Ayrshire, plunged to her death in Magaluf after trying to climb into her seventh-floor apartment.