The incident on a two-lane road known as the Beatenbergstrasse was reported to cantonal police around 6.50pm.
The cyclists were travelling in the direction of Unterseen, near Interlaken, when for unexplained reasons they collided head-on with the motorcyclist, police said in a news release.
The policeman, a 24-year veteran of the cantonal police force, died at the site of the accident, according to the release.
The two other people were transported to hospital by ambulance and a Rega emergency rescue helicopter.
Police said the motorcyclist was in “critical condition” on Thursday morning.
No information was released about the ages or identities of the accident victims.
Police closed off the road in both directions for six hours to allow emergency vehicles and the Rega helicopter to access the scene.
An investigation has been launched to establish the causes of the accident.
Police and the regional prosecutor’s office said they were “very concerned” about the death of a valued employee and expressed condolences to the victim’s family.
According to Pro Vélo Suisse, around 900 cyclists are killed or seriously injured every year on roads in Switzerland.