Gardaí are currently at the scene of the incident, which occurred in a car park of a sports ground in Donnybrook, Douglas at about 3.30pm.
The pedestrian, a man in his 70s, was pronounced dead at the scene.
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The scene is now being examined by Forensic Collision Investigators.
Gardaí are appealing to anyone who may have witnessed the collision, or who may have any information or camera footage (including dash-cam) to contact Anglesea Street Garda Station on 021 452 2000, the Garda Confidential Line on 1800 666 111 or any Garda station.