It happened on Farmingdale Road in Jackson Township, New Jersey, at approximately noon.
Police say they were called to the scene for reports of a crash involving a bicyclist.
Upon investigation, authorities say a 2017 Audi A4 was traveling on Farmingdale Road when it swerved to avoid a head-on collision with a red SUV.
When the Audi swerved, police say the car struck a bicyclist in the left lane.
After striking the bicyclist, the Audi's driver reportedly over-corrected the steering and hit a tree.
According to police, the red SUV continued down Farmingdale Road after the collision, fleeing the scene.
The bicyclist was pronounced dead at the scene. There is no word yet on the victim's identity.
The driver of the Audi was transported to CentraState Medical Center with minor injuries.
Investigators believe the vehicle that caused the crash may have been a red or maroon-colored Hyundai. The driver is suspected to be a woman with a young male child, according to police.
Anyone with information on this incident is asked to contact Jackson Township police at 732-928-1111.