The Collingdale Police Department announced the reward on Tuesday morning. The money is for information leading to an arrest and conviction in this case.
The hit-and-run happened around 9:30 p.m. Friday at the intersection of Clifton Avenue and Spruce Street.
Police say 57-year-old Timothy McCaughan, a father of three and grandfather of two, was struck by a vehicle as he walked across Clifton Avenue on his way to visit a friend.
"The witness behind the vehicle said that after the person struck him, he got out of the car, looked at the victim, said a few choice words then got back into the car and fled on Clifton Avenue," said Chief Robert Adams, Collingdale Police Department.
McCaughan was taken to Crozer Chester Hospital where he was pronounced dead a short time later.
Police are now on the hunt for both the suspect and the striking vehicle. Investigators are looking for an early 2000s model, light colored Chevy Suburban with rectangular headlights. The SUV was photographed by a surveillance camera and also by a witness at the scene.
They say the SUV may have damage to the orange plastic light assembly on the front end.
The suspect is described as a light skinned African-American or Hispanic male over 6 feet tall with a stocky build, close-cut full beard and short curly hair.
Anyone with information is asked to contact Collingdale Police Department at 610-586-0502 or Delaware County Criminal Investigation at 610-891-4700.
The reward money came from donations provided by State Representative Nick Micarelli, Tom McDowell at McDowell's Auto, Brian Oblon at Darby Pawn Shop, Mike Brennan at Brennan's Bar and Jim Jenzano at Scully's Propane.