Her father was Conservative Party president John Walsh.
The seven-year-old was hit by the minivan in the Bayview Avenue and Millwood Road area, in Toronto's Leaside neighbourhood.
Police say a 50-year-old man was driving the minivan southbound and was making a right turn at the intersection when the girl was hit.
The Walsh family says in its statement that John, Jillian and their kids Duncan, Liam and Finn are asking for privacy as they "come to terms with this incredible loss."
Fellow Conservatives expressed condolences to the family.
Toronto mayoral candidate John Tory made a statement at a press conference Thursday: "I hope we can respect their request for privacy in the days ahead as they mourn the loss of their daughter, and I hope for all of us after that period of mourning, we can focus – as we should be doing every day – on assuring the safety of pedestrians in every neighbourhood, every day, in every part of the city."
John Parker, the councillor for the ward and former Progressive Conservative MPP, said he would keep the family in his prayers.
"In the aftermath of yesterday's tragic loss of a child in our community my thoughts are with the Walsh family and the pain that they must be enduring," he said.
"The matter of the terrible road accident that took the life of young Georgia Walsh is under investigation by the appropriate authorities. We all understand the importance of allowing that investigation to be carried out in an orderly manner and for the facts to be made known at the appropriate time."
A church in Godfrey, which Georgia’s grandparents are connected to, posted on Twitter. “This afternoon, former FMCiC Bishop Gary & Ellen Walsh’s granddaughter Georgia, daughter of John and Jillian Walsh, was killed in an accident in Toronto. Please keep the family in your prayers during this difficult time.”