The incident occurred just before 10 a.m. at the intersection of Belmont Avenue and the Avenue of the Republic in Parkside,
Investigators say a black Dodge Charger and a black Chrysler were traveling at a high rate of speed when one of the vehicles struck the 67-year-old man as he attempted to cross the intersection on his bicycle. He was pronounced dead at the hospital.
Family members told Action News the victim had been cycling his entire life and was a member of the Bicycle Coalition, advocating for safer streets.
"What I do know is consistent in these crashes when people don't walk away is that it's a high rate of speed," said Chris Gale, executive director of the Bicycle Coalition.
Gale said the area where this happened is known as the "high injury network," a corridor with the highest rates of injuries and fatalities per mile.
"It's one of the worst areas to bike," said cyclist John Sigmund. "I bike on the sidewalk. I wouldn't even consider biking in the road."
Police believe they may have located the striking vehicle. While en route to the scene, officers spotted a black Dodge Charger parked on the 3200 block of Sedgley Avenue, where several people were inspecting its damaged front end. The vehicle was seized by investigators.
So far this year, Philadelphia has recorded 12 fatal hit-and-run crashes.