The accident took place at Malegaon phata on Nanded-Kalamnuri road at around 4am, he said, adding that traffic movement on the route was disrupted for some time.
The truck carrying the sheep hit the other vehicle loaded with tiles from behind, Kalamnuri police inspector Vaijanath Munde told PTI.
Four people and 150 sheep were killed, the official said.
The deceased persons were travelling in the truck carrying the animals, he said.
Another person travelling in the same truck received injuries and was sent to a hospital in neighbouring Nanded district for treatment, the official said.
The police with the help of locals later removed the trucks from the road and it was cleared for traffic movement, he said.