The collision occurred last Wednesday morning, near the intersection of Spadina Avenue and Dundas Street West.
Toronto police issued a news release on Monday saying that the woman had died of her injuries the day before.
As the investigation continues, police are hoping to hear from anyone with information about the collision.
Investigators can be reached at 416-808-1900. Information can be passed on anonymously through Crime Stoppers at 416-222-8477.