Police said the man was walking east across Jarvis Street when he was struck by a vehicle in the northbound lane a little after 10 p.m.
The car fled the scene and the victim was taken to hospital where he later died, officials said.
A vehicle description has yet to be released and officers are canvassing the area for video surveillance and additional witnesses.
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Anyone with information is asked to contact police at 416-808-1900 or Crime Stoppers at 416-222-8477.
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