Hugo Chavez, 21, of Bell, walked into the East L.A. Sheriff's Station at 6:30 p.m. Saturday and surrendered to deputies.
Jose Mendoza, 19, of Bell Gardens was hit by a dark-colored pickup truck headed westbound on Randolph.
He was pronounced dead at the scene.
Investigators say the truck may have been traveling as fast as 80 mph at the time of the crash.
The area is known for street racing, police said, and that may have played a part in the accident.
Mendoza was in the middle of the street and may have been participating in or watching a street race, police said.
Anyone with information is asked to call Commerce police.
Anyone wishing to donate to Mendoza's family can contribute to the fund established at Bank of America. The fund's number is 164104329688 and was set up under the name "Leticia Mendoza."