The 19-year-old woman, from Carisbrooke, was pronounced dead at the scene of the collision last night.
It happened on the A3056 at Hale Common, Arreton at 11.35pm on Friday and involved a black Ford Fiesta.
The road was closed while emergency services respond to the incident.
Officers investigating are now keen to speak with anyone who witnessed the collision or anyone who may have seen the black Fiesta in the area in the time leading up to 11.35pm.
Maybe you have a dash cam in your car and captured footage of the vehicle prior to the collision?
Anyone with information can call 101, quoting 44200012614. Alternatively, you can call Crimestoppers anonymously on 0800 555 111.