The woman was transported to a hospital where she was later pronounced dead, said Sgt. Pete Dugan, a Tucson police spokesman.
The driver of the vehicle is cooperating with detectives.
Eastbound Speedway was closed at Wilmot for nearly three hours due to the crash.
There is no more information at this time.
Clarification: Due to incorrect information from law enforcement, the original age of the pedestrian was incorrectly stated. Police say the pedestrian is in her 80s.