The 15-year-old was surfing at Wilsons Headland at Wooli Beach, near Grafton and north of Coffs Harbour, just before 2:30pm on Saturday when he was attacked.
The shark attack left him with severe injuries to his legs.
Several surfers came to the aid of the teen and helped him to shore for medical attention.
Despite CPR efforts from paramedics to revive him, the boy died at the scene.
A Surf Life Saving NSW spokeswoman said drones which scan coastline for predators had been concentrated in the mid-north coast area lately.