A man charged with culpable driving after a cyclist was killed in a hit and run in West Footscray was allegedly on bail at the time.

Matthew Terrance O'Connor, 27, was arrested on Friday morning at a home in Heidelberg, a day after he is accused of killing cyclist Peter McGuffie in a hit and run on Barkly Street.

Police investigate the death of cyclist Peter McGuffie in West Footscray on Thursday. Credit:Penny Stephens

Mr O'Connor was charged with culpable driving, dangerous driving causing death, failing to remain at an accident and failing to render assistance. He has also been charged with breaching bail.

Mr McGuffie, 54, was riding along Barkly Street at 3.15pm Thursday when he was hit by a car from behind and killed.