Rhyce Harding, 27, was allegedly hit by a white ute after getting out of his car in Sydney's west and was likely dragged along the road for about 100m before ending up on the ground, police said.
Emergency services were called to Jersey Road at Blackett on Thursday morning after reports a pedestrian had been hit by a car.
He died at the scene while being treated by paramedics.
The other driver left the area.
A 39-year-old man went to Mount Druitt police station and was arrested about 6.30am on Friday.
By Friday afternoon he was charged with manslaughter, failing to stop and assist after a vehicle impact causing death, negligent driving (occasioning death) and dangerous driving occasioning death.
He was refused bail and is set to appear before Parramatta Local Court on Saturday.
A white Toyota Hilux was seized in the nearby suburb of Windsor and will undergo forensic examination.
Tributes have begun to flow for Mr Harding, who ran a landscaping business.
World Gym in Marsden Park said its staff and members were deeply saddened to hear about the passing of "one of our beloved members".
"Rhyce was a much-loved member of our club, who will always be remembered for his kindness, humbleness and dedication to his training," the club said in a Facebook post on Friday.
Acting Inspector Shane Ranee said the incident likely followed a road-rage confrontation.
"Words were said, that's what led us to believe it could have happened because of a road rage-incident," he said on Thursday.
Police did not know if the victim and the other driver knew each other before the incident.
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