The accident occurred around 5:30 p.m.
Police say the man, believed to be in his 50s, was attempting to cross the 2200 block of Cottman Avenue when he was hit.
The driver of the striking vehicle, a Dodge Charger, remained at the scene.
The man was taken to Aria Health Torresdale where he was pronounced dead.
"Right now this appears to be a tragic accident," Philadelphia Police Chief Inspector Scott Small told Action News.
Police are continuing to investigate.