The crash happened around 9 p.m. at Penn Street and Raymond Avenue, according to police.
Police say the suspect drove around a car waiting at a four-way stop and slammed into a Nissan Versa.
The driver in the Nissan died at the scene. A passenger was taken to a hospital, but she did not survive.
Pasadena police Lt. Anthony Russo said the Lincoln was stolen. Russo said the Navigator wasn't reported stolen until after the crash.
"The car that caused the crash was left at the scene and then impounded for forensic evidence," Russo said.
The two suspects - two men in their 20s - fled on foot and are still on the run.
Neighbors who spoke to Eyewitness News say the crime scene was still blocked off Thursday morning.
Russo said the area is usually a quiet neighborhood, but they've seen an uptick in reckless driving.
"Slow down and be cognizant of your surroundings and never assume that you're safe proceeding through an intersection, regardless of what the control signals are telling you," Russo said.
Pasadena police are investigating the crash as a felony hit-and-run.