Just after 7.30pm, officers were called to a report of a road traffic collision involving a vehicle and a pedestrian on Rochdale Road, Middleton.
A 30-year-old man was taken to hospital in serious condition after being in a collision with a grey BMW 320i M Sport but sadly died in hospital some time later.
A man in his 30s was arrested on suspicion of causing serious injury by dangerous driving. He has since been released under investigation.
PC Neil Pennington, of GMP’s Serious Collision Investigation Unit, said: “This was an incredibly tragic collision that has left a family utterly devastated on Christmas Eve and our thoughts are with them at this difficult time.