The incident happened about 2:30 a.m. at Vista Del Mar near the Hyperion Treatment Plant.
"There was a bicyclist that was heading northbound, possibly along the curb, and got rear-ended," said Officer Daniel Lee of the Los Angeles Police Department.
The victim, only identified as a 32-year-old man, died at the scene.
Authorities did not have a suspect or vehicle description.
The road was shut down for several hours as police investigated. Officials said the tragedy serves as a grim reminder for people to be aware of their surroundings.
"This Fourth of July, there's going to be a lot of traffic, especially on Vista Del Mar - people coming to the beach," Lee said. "It's great weather to enjoy the beach. However, you just have to be careful. Just make sure you know what's around."
Police said many people try to cross busy streets outside of the crosswalk or ride their bikes close to traffic. Seasoned cyclists said the best way to stay safe is to assume drivers can't see you.
"I just don't think they're aware of us. I know I've had cars just pull right in front of me and across my path, and I'm just saying, 'Am I invisible or what?' So you definitely have to make eye contact," said Kathy Sommo of Mar Vista.
Even the bike paths can be dangerous, according to locals.
"There are kids running out across the sand, across the bike path," said Richon Tate of El Segundo.
Anyone with information about the hit-and-run was asked to call Los Angeles police at (213) 473-0222.