Sebastian Kennett, the man wanted by police in connection to a hit-and-run that killed a Melbourne nurse, has been arrested after a three-day search.

Lynda Hansen, 53, of Murrumbeena, was killed when a stolen Lexus crashed into her silver Toyota at Oakleigh about 11:00pm on Monday.

The driver of the stolen car fled the scene after being asked by a bystander if he needed help.

Police issued a warrant for Mr Kennett, 20, on Wednesday.

He and two other males were arrested in Blackburn South this evening, police said.

The trio are being interviewed and no charges have been laid at this stage.

Ms Hansen was described as a caring and compassionate cardiac nurse. ( Supplied: Victoria Police )

Police had previously said the Lexus was stolen from the Elwood area last month.

Ms Hansen initially survived the crash but died despite the best efforts of nearby residents who came to her aide.

She was remembered by her family as a compassionate and caring woman who worked as a cardiac nurse.

She was about to start a new job at a large private hospital.

They said Ms Hansen led a "dedicated spiritual life", loved yoga, sang in a gospel choir and enjoyed overseas travel and caring for her elderly mother.