The Honda was southbound on 152 Street when the cyclist, who was riding on 86 Avenue, crossed into the path of the car at around 10 p.m. PT.
The cyclist was thrown from his bicycle and died at the scene.
The 18-year-old man driving the car and his passenger were both taken to hospital with non-life-threatening injuries.
According to the latest images on Google Streetview, there is a stop sign on 86 Avenue at the intersection of 152 Street, but no marked crosswalk. There is no stop sign or traffic light at 86 Avenue for vehicles travelling on 152 street.
Police say the cyclist is believed to be in his mid-20s, but has not been identified as he had no ID with him at the time of the collision.
Investigators are asking anyone who may have witnessed the crash to contact Surrey RCMP.
Google Maps: 152 St. and 86 Ave., Surrey