Det.- Const. Carl Andersen said that an 83-year-old woman and her friend were crossing Sheppard Avenue East, west of Don Mills Road at about midnight on Saturday.
The victim made it to the centre of the road, but was then struck by a Chevrolet Equinox travelling east along Sheppard Avenue.
She was rushed to hospital where she was pronounced dead.
Andersen said the victim and her friend were not crossing at an intersection at the time of the collision.
Any witnesses to the collision are asked to contact investigators at 416-808-1900.