The incident took place on Prospect Street, around 3 a.m.
Police said they are still looking for the driver, who sped off after hitting the women.
Authorities said the two victims were walking on the street.
They said the second woman is in hospital with serious injuries and they fear for her life.
Prospect Street is closed to traffic between Jacques-Cartier and Bouchette streets while police investigate.
They are asking for the public's help in finding the driver.