The female was transported to Riverview Medical Center in Red Bank where she was later pronounced dead.
The driver of the vehicle remained on the scene and is cooperating with police according to a statement from the department.
Det. Lt. Paul J. Bailey said that notification to next of kin has not been made and there are no identifications being made at this time.
The crash is still under investigation. Anyone with information is asked to contact Cpl. Nicholas Caprio of the Middletown Twp. Police Traffic Safety Unit at (732) 615-2100.