Police were called to the scene of Yonge Street and St. John’s Sideroad at approximately 2 a.m. Sunday.
After the crash, Yonge Street was closed between St. John's Sideroad and Savage Road as police investigated the scene.
Michael Borland, a passenger who was being driven home by the cab driver at the time of the collision, said he had been looking down at his phone when it occurred.
"I looked down at my phone and all of a sudden the windshield just pops out of nowhere," Borland said, when speaking with reporters after the crash.
It wasn't immediately clear what had happened, but the cab was soon approached by a pedestrian who came up and asked to know what had happened to his friend.
"We knew something bad had happened," said Borland.
Borland said police made it to the scene quickly after 911 was called.
First responders located the man who had been struck. He was pronounced dead at the scene.
"It's very shocking and unfortunate," Borland said.
Also Sunday, Toronto police said that a 75-year-old man had died from injuries he suffered after he was struck by a vehicle late Friday evening.
Collisions have claimed at least seven lives in Ontario since Friday evening, including the two pedestrians killed in the GTA.