It happened at about 20:45 GMT on Hordle Lane, near Hordle, involving a Mercedes E350 Sport convertible.
A passenger in the car, a 15-year-old girl from Surrey, died at the scene. An eight-year-old and 10-year-old were taken to Southampton General Hospital.
The 34-year-old driver, from Hordle, has been arrested on suspicion of causing death by dangerous driving.
A 15-year-old girl died and two children were taken to hospital after a car struck a tree in Hampshire.