David Norris Duff (79), of Dunedin, was crossing State Highway 1 at the intersection of Cumberland St North and St David St about 10.30am when he was hit by a south-bound white Toyota sedan driven by a 67-year-old East Otago woman.
Mr Duff was taken to Dunedin Hospital with serious injuries and died in hospital ''some time later'', Acting Senior Sergeant Paul McLaughlan said.
The driver was not injured.
Road and weather conditions at the time were clear.
Acting Snr Sgt McLaughlan said it was understood Mr Duff was on a marked road crossing when he was hit.
''Police would like to speak with anybody who witnessed the incident, or was in the vicinity at the time it occurred, particularly any witnesses who saw the elderly gentleman crossing the road at the time of the crash,'' he said.
Those with information were asked to contact Senior Sergeant Phil McDouall, at the Dunedin Central police station, on (03) 471-4800.
The serious crash unit was investigating the incident.
No charges had been laid last night.
Traffic was diverted off SH1 for two hours following the crash.