The crash happened at approximately 8:25 p.m. near the intersection of Indiana Avenue and Jackson Street, according to Riverside police.
An investigation determined the victim was crossing the street when he was struck.
The victim was taken to Riverside Community Hospital, where he died of his injuries.
Police said the suspect vehicle didn't stop and fled the location eastbound on Indiana Avenue.
Witnesses described the vehicle as a newer model dark blue or black Toyota Corolla or Honda Civic.
The victim's identity has not been released.
Riverside police is investigating the incident.
Anyone with information is asked to call Riverside Police Traffic Detective G. Matthew at (951) 826-8724.