The recall concerns 2006 model year Ford Ranger pick-up trucks sold in North America.
"We take this matter very seriously and are advising owners of these specific 2006 Ford Rangers to stop driving their vehicles so dealers can make repairs immediately," Ford said in a statement.
The manufacturer said it made the decision to recall the vehicles following two incidents involving cars built on the same day.
The most recent occurred in July 2017, with Ford notified on December 22. A subsequent inspection indicated that the airbag's inflator ruptured, killing the driver. The first accident happened in January 2016, also killing one person.
"Ford is saddened by these tragic losses and offers its sincere condolences to the drivers' families," the company said.
Most of the vehicles were sold in the United States, with 190 others sold in Canada.
US authorities brought the issue of defective Takata airbags to light in 2014, sparking the biggest-ever auto safety recall.
In total, at least 100 million units across all car manufacturers have been affected worldwide -- while 20 people have died in related accidents, and scores more have been injured.
In the United States alone, the National Highway Traffic Safety Administration said 34 million vehicles with a total of 46 million airbags have been impacted.
Takata, a Japanese group, has since gone bankrupt.