Police said the pair, who are Norwegian nationals, were spotted unconscious in the water late afternoon on March 2.
Lifeguards rescued the woman along with three others in her group but were unable to revive a 69-year-old man, BBC News reports.
The 66-year-old woman remains in a critical condition.
Police believe she was related to the man who died during the accident.
Bondi, Sydney’s best-known beach, is regularly patrolled by lifeguards.
In a statement to BBC News, beach rescue organisation Surf Life Saving New South Wales said: "CPR was immediately commenced on the man but despite the best efforts of all those involved, he was unable to be revived.”
Sydney’s Daily Telegraph reported the group of tourists may have been knocked off their feet by the force of a wave.
The death will now be investigated by a coroner.
