Police said they received reports a vehicle had allegedly struck two pedestrians in Wulagi, a northern suburb of Darwin, around 4.10pm on June 13.
The driver had failed to stop and render assistance and allegedly fled the scene.
A 23-year-old man was charged on Friday night with hit and run causing serious harm and he was bailed to appear before the court on June 25.
Police said one of the victims, a 39-year-old man, died from his injuries in hospital overnight.
Detective Acting Superintendent Brendan Lindner said detectives are now consulting with the Director of Public Prosecutions regarding upgrading his charge.
"I once again would like to remind all drivers involved in a crash that it is a legal requirement for you to stop and render assistance and then contact and take direction from police," he said.
