The 32-year-old mother of two died in hospital after she was struck by a car on Saturday night in Adelaide's inner north.
Her husband Rohan Dennis, an Olympic cycling medallist and two-time world champion, has been charged with causing death by dangerous driving, driving without due care and endangering life.
He has been bailed to face court in March.
After an outpouring of tributes from the cycling community, her parents Peter and Amanda and sister Jess released a joint statement on Tuesday saying words could not convey their grief and sadness.
"Myself, Amanda, Jess and families, are utterly devastated and still struggling to process what has happened," read the statement.
"Not only have we lost a daughter and sister, her children have lost their mum, a freewheeling spirit, a giver with a big heart, patience and zest for life.
"She was the rock of their life and ours and we need to honour her memory so they can grow up knowing who she was, what she stood for and what she gave to everyone whose life she touched.
"The outpouring of sadness and support has overwhelmed us. In her short life Melissa has had so many positive touch points in and around the world."
A funeral for Hoskins will be held in her hometown of Perth, followed by a memorial service in Adelaide after this month's Tour Down Under.
The family has asked for privacy to deal with their grief.
Hoskins competed at the 2012 and 2016 Olympics in the team pursuit and was in the squad that won the 2015 world title in the event.
Australia was one of the gold medal contenders at the 2016 Rio Games but a training crash days before qualifying cruelled their chances.
Hoskins was among those injured in the pile-up and after riding in the qualifying round, was forced to sit out the rest of the event as Australia finished fifth.
She and six-time Olympic medallist Anna Meares were members of the Australian track cycling team at the London and Rio Games.
Hoskins also competed on the road for several years with Australian team GreenEDGE, before retiring from professional cycling in 2017.
After Dennis' retirement in 2023, the family relocated to Adelaide from Europe.
Hoskins and Dennis had been scheduled to take part in an event at the Tour Down Under in Adelaide.
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