The victim, aged in his early 50s, was found at Latchford Place at the junction with Romford Road, in Redbridge, at 02:55 GMT on Saturday.
Paramedics and London Air Ambulance attended the scene and the man was pronounced dead at about 03:45 GMT.
The Met Police have appealed for any mechanics who had seen a car with windscreen damage to come forward.
No arrests have been made and officers from the Serious Collision Investigation Unit based at Chadwell Heath are investigating.
Det Sgt Helen Lambert said: "I would also like to hear from anyone who saw a Volkswagen, possibly a Touareg in the area.
"Whilst this vehicle may not have been involved in the collision, I am eager to speak with the driver.
"I would also like to speak with anyone in the repair industry who has recently been approached by the owner of a vehicle that has frontal or windscreen damage."
The victim's next of kin have been informed and a post-mortem examination will be held in due course, police said.
A man's death in a suspected hit-and-run in north-east London has prompted a police appeal.