Police were called to the 800 block of Avenida del Vista in Corona around 11:44 p.m.
They found a man suffering from major trauma and brought him to a local hospital, where he was later pronounced dead.
Investigators say the man was crossing the street when a vehicle heading northbound collided with him. The driver kept going without stopping to help, but then abandoned the vehicle in a nearby parking lot, where the driver and a passenger ran off on foot.
Investigators seized the vehicle and are working to identify the driver and passenger.
The name of the victim has not been released.
Anyone with information is asked to contact Officer Tim Najmulski at (951)817-5844 or email Tim.Najmulski@CoronaCA.gov.