The 60-year-old was one of a group of seven people walking on Manse Road in Bearsden, East Dunbartonshire, at around 4.50pm when they were hit by a grey Land Rover.
She sustained a serious head injury and died at the Queen Elizabeth University Hospital in Glasgow on Thursday.
The other injured pedestrians were taken to the same hospital.
A 15-year-old boy and two women aged 21 and 65 were said to be in a serious but stable condition, earlier.
Another two women, aged 45 and 52, and a 50-year-old man suffered minor injuries.
The 64-year-old female driver of the Land Rover was taken to Glasgow Royal Infirmary as a precaution.
In a statement, Police Scotland said: “A full report will be sent to the procurator fiscal.
“Officers at the Road Policing Unit are continuing to establish the full circumstances and are re-appealing for any witnesses or anyone with information to contact them.
“Anyone with information should contact Police Scotland on 101 quoting incident number 2520 of December 26.”