The Saunders County Sheriff's Office identified the man as 50-year-old Steven Jedlicka, of Schuyler. He was flown to a Lincoln hospital following the crash, where he was pronounced dead.
Two other men in his truck also were hospitalized.
The accident occurred around 7:30 a.m. Thursday about six miles north-northwest of Valparaiso.
Sheriff Kevin Stukenholtz says the pickup was headed south on County Road 29 when it collided with the bus, which was going west on County Road H. The intersection had no stop signs.
The bus was carrying 11 children from East Butler Public Schools. The children and bus driver, 59-year-old Lyle Divis of Brainard, were taken to area hospitals and have been treated and released.