Three firemen, who had been battling to stop the blaze from spreading, are reported missing following a powerful explosion.
Earlier today, the fire had spread to at least 16 fuel tanks, most of them containing petrol, sending a huge pall of smoke over the depot near Vasylkiv, 19 miles from Kiev.
The emergency services are trying to stop the fire from engulfing another fuel depot nearby.
At least 11 people were injured in the fire and one later died in hospital, local media reported.
Police are investigating three possible causes: arson, technical malfunction, or violations of fuel storage regulations.