Ah, here we go, the million-dollar question in the 'Seven Deadly Sins' fandom. Does Meliodas, our Dragon Sin of Wrath, bite the dust? Well, not quite. In the first season, he's killed by the commandments and then comes back to life thanks to the curse placed on him by the Demon King - which made him practically immortal.
However, by 'death', if you're referring to his 'emotional death' post his awakening, then yes, the Meliodas we knew does 'die' in a way. But remember, this doesn't mean it's the end of the character or his journey. It's merely a turning point.