The toddler fell when she was out riding with members of The Bedale Hunt, in North Yorkshire, on Wednesday.
Paramedics were rushed to the scene but the girl died as a result of her injuries.
Officials at the Bedale Hunt said members are “completely devastated but pulling together” for the girl’s family, the Northern Echo reports.
In a statement, a hunt spokesperson said: “We can confirm that a tragic accident happened on Wednesday, 15th September, when a two-year-old girl fell from her pony and subsequently lost her life.
“As a community we are all completely devastated but are pulling together to support the family involved.
“Our sincere condolences go to all those affected and we urge that everybody respects the family’s privacy during what is a very distressing time.”