Just before 8 a.m., police were called to the scene of a collision on Sheppard Avenue, near the Kennedy Road intersection.
Const. Clinton Stibbe told CBC News that an eastbound Mazda Protégé struck the centre median on Sheppard Avenue and subsequently struck a 68-year-old male pedestrian.
Stibbe said the victim was without vital signs when police arrived at the scene.
"He was revived at the roadside and transported to hospital where, unfortunately, he did succumb to his injuries," Stibbe said in a telephone interview.
The 63-year-old male driver of the vehicle remained at the scene and has spoken to police.
The collision remains under investigation.
Stibbe said that all collisions are the result of either a driver or pedestrian error, or in some cases both sides making a mistake.
The 23 collisions that occurred in Toronto this year are preventable, Stibbe said, adding that everyone using the road needs to keep this in mind.
"We need to work together as a road-using community in order to ensure that everybody get to and from the places that they need to go safely," Stibbe said.
Police say the city saw 18 pedestrians killed on city roads last year, compared to 20 pedestrian deaths in 2010 and 31 fatalities the year before.