Victoria Police advises a Ford SUV collided with the pedestrian near the intersection of Main Street and Warrens Lane about 9.10am.
The woman was taken to hospital with life-threatening injuries but sadly died the following day.
Emergency services responded to the collision. The driver of the Ford stopped at the scene and was not injured.
The exact circumstances surrounding the collision are being investigated.
Anyone who witnessed the crash, with dashcam footage or information is urged to contact Crime Stoppers on 1800 333 000 or www.crimestoppersvic.com.au.
A concerted effort by locals is again being undertaken to have safety improved in Main Street Rutherglen, as detailed again in The Free Press, of March 20.
Federal Member for Indi, Helen Haines used a 90-second speaking spot in Federal Parliament to highlight the truck accident in Rutherglen on March 15.
The truck smashed into a car, power pole and The Other Place café causing enormous inconvenience. Fortunately, no-one was on that part of the street or footpath at that time.
The Victorian Government has unspent funds of $2 million allocated to the alternative truck route which locals want to see used on better traffic management for the town urgently. A petition by Rutherglen residents is seeking signatures accordingly.