The 61-year-old mother from Wisconsin was visiting her 32-year-old daughter. They were struck as they jaywalked across the 1700 block of Ocean Avenue around 1 a.m., police said.
Responding officers found the mother unresponsive. She died at a local hospital around 2 a.m after suffering major head trauma. Her daughter suffered minor injuries, and is expected to be OK.
The suspect was described as a Caucasian male. The vehicle is described a white or silver 2003-2007 Infinity G35 with tinted windows and obvious front-end damage.
The Ocean Avenue exit from Palisades Beach Road was closed following the incident, and reopened around 8 a.m.
Investigators were following up with nearby businesses in hopes that surveillance cameras may have captured the incident on camera.
Anyone with information on the case was urged to contact Santa Monica police at (310) 458-8491.
CNS contributed to this report.