A cyclist has died on Melbourne's bayside after crashing into a parked car.

The cyclist was riding north on Marine Parade, Elwood, just south of Meredith Street, when it is believed he crashed into the back of a parked vehicle at about 7am, police said.

The scene of the accident on Marine Parade in Elwood. Credit:Luis Ascui

The 51-year-old cyclist from South Yarra died at the scene.

Acting Sergeant Peter Shrimpton said the cyclist was in a group of eight to 10 riders travelling towards the city when the crash occurred.