I was trying to import one excel file (2010 version) into mssql server with SQL Server Management Studio and keep getting that error.
Solution which solved my problem:
I found this website http://blogs.msdn.com/b/farukcelik/archive/2010/06/04/accessing-excel-files-on-a-x64-machine.aspx and followed the steps and didn’t work.
What I did was I installed Microsoft Access Database Engine 2010 Redistributable and still was getting the same error.
After that I saved that excel file as Excel 203 (with extension .xls) and now it worked fine.