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It happened shortly before 3 a.m. Saturday in the 3700 block of New Bern Avenue near Trawick Road.
The man who was struck was taken to WakeMed but did not survive his injuries.
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.