The Portugal forward’s brother Andre Silva also died in the accident, which took place in the Spanish province of Zamora.
The 26-year-old was also a professional footballer, with Portuguese second-tier club Penafiel.
The Guardia Civil has told BBC Sport that Jota and his brother died at about 00:30 local time on Thursday.
They said that their car, a Lamborghini, left the road due to a tyre blowout while overtaking another vehicle and then caught fire.
Jota married his long-term partner Rute Cardoso, with whom he had three children, just last month.
He recently posted pictures on social media, external of the ceremony, which took place on 22 June.
Liverpool said they “are devastated” at the loss of Jota, who they signed from Wolves for £41m in 2020.
He scored 65 goals in 182 appearances for the Reds, helping them win the FA Cup and League Cup in 2022 and the Premier League title last season.
He also played for Portugal as they beat Spain in the final of the Nations League on 8 June, which was his 49th international appearance.
“The Portuguese Football Federation (FPF) and all of Portuguese football are completely devastated,” read a FPF statement.
