Emergency services were called to the A426 just after midnight where a man in his early 50s was found dead by paramedics.
While details are not yet known, police are not treating the death as suspicious.
The road was closed by police while a “serious incident” was investigated.
A Warwickshire Police spokesperson said: “Police were called to Leicester Road in Rugby shortly before 00.20am this morning (30 March) to concerns for a man’s safety.
“Paramedics also attended the scene and upon arrival a man in his early fifties was declared deceased.
“Police are not currently treating the incident as suspicious.”
A second major incident in the same area has been confirmed as a scrapyard fire.