The crash happened outside Holborn Underground station in High Holborn at about 09:25 BST, the Metropolitan Police said.
The male cyclist, Alan Neve, believed to be in his 40s, was pronounced dead at the scene.
The driver of the tipper lorry, a 51-year-old man, was arrested on suspicion of causing death by careless driving and is in police custody.
This is the third cyclist to be killed o
Gordon Seabright, CTC Chief Executive, said: “Alongside the infrastructural improvements promised by the Mayor, Transport for London needs to change the way it deals with lorry traffic, and start restricting access to the largest vehicles during periods when cycle use is highest. Under current arrangements deliveries are banned at night, meaning lorries and cyclists are forced to share the space during peak commuting hours – a potentially lethal combination given the lack of good design in junctions for cyclists.”