The crash happened around 1 a.m. Saturday on the corner of Kensington and Lehigh avenues.
A 50-year-old man was walking along the street when he was struck.
Medics rushed him to Temple University Hospital where he was pronounced dead a short time later.
Officials say they are searching for a black Dodge Charger with damage to the front bumper.
Car parts were left behind at the scene.
Police say the investigation is active and ongoing with the Accident Investigation Division.