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It happened shortly before 3 a.m. Saturday in the 3700 block of New Bern Avenue near Trawick Road.
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The man who was struck was taken to WakeMed but did not survive his injuries.
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On Monday, he was identified as Sabas Colon Habana of Raleigh.
The suspect vehicle is described as a silver four-door sedan that likely has front-end damage to the bumper, grill, hood, and windshield.
The car was traveling east in the far-right lane on New Bern Avenue when Habana attempted to cross the road. He was not in a crosswalk, police said.
Anyone with information that might assist investigating officers is asked to call Raleigh CrimeStoppers at (919) 834-HELP or visit raleighcrimestoppers.org for text and email reporting options. CrimeStoppers pays cash rewards for anonymous tips that help solve cases.