The crash occurred around 1 a.m. in a residential neighborhood near the intersection of La Palma Avenue and East Street.
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Whether officers were actively engaged in a pursuit at the time of the crash was unclear. Reached for comment, a Placentia police spokesperson referred ABC7 to the Anaheim Police Department.
The suspect lost control of the vehicle and hit a woman before crashing into a brick-and-wrought-iron fence in front of a home.
The victim was transported to a hospital, where she was pronounced dead, authorities said. Her name was not immediately released.
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The driver fled the scene on foot after the collision and remained at large. Police officers and a K-9 unit were seen conducting a search of the area. A description of the person being sought was not available.