It happened around 5:30 a.m. in the La Colonia neighborhood near Garfield Avenue and Cooper Road.
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Details are limited but police said when officers arrived, they found the man in the middle of the street. He was pronounced dead at the scene. Police said the driver fled the area before authorities got there.
Officers remained on the scene into the afternoon, checking for any security cameras that may have captured what occurred.
The area was dark in the early hours and police are looking to see if that played a role in the crash.
Oxnard Sgt. Jose Diaz said they don't have too much information when it comes to the drivers' vehicle.
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"We believe it to be like a dark blue four-door sedan," he said. "Unfortunately, we don't have any type of identifying information as far as any type of damage to the vehicle or any license plate."
The victim has not been identified.
Anyone with information is urged to contact police.