The incident happened around 1:43 a.m. at the intersection of Olympic Boulevard and Arapahoe Street, according to the Los Angeles Police Department.
Authorities say the juvenile victim was riding a motorized pocket bike when he lost control and slid into the intersection. That's when he was hit by a car, but the driver did not stop.
The teenager, identified by officials as Joseph Rangel, was pronounced dead at the scene.
A small memorial at the intersection featured a wooden cross with his name and age written on it.
A description of the suspect or vehicle was not available.
A reward of up to $50,000 is being offered to anyone with information that leads to an arrest. Anyone with information is asked to call detectives at (213) 473-0234.
A GoFundMe campaign has been set up to help the family with funeral expenses.