A second person has died following a two-alarm fire in the basement of a home in the city's west end on Wednesday night.

Crews were called to a home on Gladstone Avenue near Shanly Street, just north of Bloor Street, for a reported fire at around 7 p.m.

Crews arrived to find a "very difficult and deep-seated basement fire," Toronto Fire Acting Chief Jim Jessop said on Wednesday.

Two people were pulled from the home without vital signs, including a woman who was pronounced dead at the scene.

A man was rushed to hospital in critical condition but police confirmed Thursday that he has now died of his injuries.

Several firefighters were assessed by paramedics after being overcome by heat but are expected to be OK, Jessop said.

The Office of the Fire Marshal is now investigating the deadly fire and roads are currently closed in the area.

Police have not released the names or ages of the two victims.

"The investigation into the origin, cause, and circumstance has commenced with the Toronto Fire Service, Toronto Police Service, and the Office of the Ontario Fire Marshal," Jessop said during an update at the scene on Thursday morning.

He noted that firefighters have had a "very tragic and busy" couple of weeks.

"Our crews did a fantastic job getting into that building... They faced a significant challenge last night under very difficult heat conditions," he said.

Jessop said they are still investigating whether the unit had working smoke detectors.

He added that there is nothing to indicate that the home was being used as a multi-tenant building.

"On behalf of all the women and men of Toronto Fire Service I want to extend our deepest condolences to all of those impacted by this tragic fire," he said.