The accident was reported at 2:30 a.m. off Fordham Boulevard and Scarlett Drive, not far from the I-40 interchange.
Police say four pedestrians were hit as they were standing outside a car that had just wrecked.
At least three people were hurt and taken to area hospitals. Their injuries were non-life threatening and they have all since been released.
Investigators are searching for the person who hit the victims and took off.
Police say the driver may have fled on foot or was possibly picked up by a passer by before officers arrived at the scene.
The names of the victims are being withheld pending further investigation.
If anyone has information concerning the identity of the driver of the Silver 2000 Audi A4, please call either the Chapel Hill Police Department at 968-2760 or Crime Stoppers at 942-7515. Calls to Crime Stoppers are confidential and anonymous, and the caller may be eligible for a cash reward up to $2,000 for information that leads to arrest.