The accident happened shortly before 12 a.m. Tuesday on Cicero Avenue just south of Archer.
Chicago police say the man was crossing the street but not at a crosswalk, and it was raining heavily at the time. However, there was no official word on if the weather played a role in the accident, which occurred near a busy intersection close to a bus stop.
Authorities say the man was 56 years old and from Oklahoma.
Early Tuesday, police had not cited the cab driver, nor had the Cook County medical examiner identified the man.