The man was surfing at Greenmount Beach when at around 5:00pm (0700GMT) on Tuesday he was bitten on the leg, Queensland police said.
Several surfers assisted in bringing the man back to the shore where lifeguards and paramedics treated the man, but he succumbed to his injuries.
Beaches in the area were closed following the incident.
Specially designed meshing nets are placed in the waters off many popular beaches, which reduces the chance of a shark attack but they do not create a total barrier between swimmers and sharks.
The last recorded fatality on Gold Coast beaches from a shark was in 1958, according to local media.