Police are searching for the driver involved in a hit-and-run in Darwin's north overnight, which left a 46-year-old cyclist dead.

Officers say a blue Toyota Aurion struck the man on Winnellie Road at Winnellie just before 10:00pm on New Year's Eve.

"It seems that for whatever reason, the cyclist has fallen off his bike in the middle of the road, someone's stopped to render assistance and when they were talking to the person, the other car has come along unfortunately and run him over," Duty Superintendent Rob Burgoyne said.

Despite the help of witnesses and emergency services, the man died at the scene.

On Sunday afternoon, police found the vehicle involved, but were still searching for the driver and passenger of the Aurion and have appealed for the pair to hand themselves in.

Police have urged anyone who may have seen a similar vehicle in the area to come forward. ( Supplied: Northern Territory Police )

"Obviously the people know who they are. We do ask them to come forward because we will catch up to them eventually on the information that we have to hand," Duty Superintendent Burgoyne said.

Police said witnesses said there were two men in the car and they briefly stopped a short way past the scene before driving on.

The car has NT plates with the registration CB-31-FK and police have urged anyone who may have seen a similar vehicle in the area, to come forward.

The incident took the 2016 road toll in the Northern Territory to 45.