The driver said he was not aware that he hit someone, and has not been arrested, Sgt. Eric Stasiak said.
The accident was reported at 7:51 a.m. at the intersection of Shoreway Road and Holly Street.
Witnesses told police the driver of a vehicle with red paneling that looked like a dump truck was making a right onto Holly Street from southbound Shoreway Road.
A woman on a bicycle tried to pass the truck as it turned, but she was struck and some part of the truck rolled over her, police said.
The woman, who police said was in her 50s, died at the scene.
Sometime after 9 a.m., authorities located a truck matching the description given by witnesses at the Allied Waste San Carlos transfer station, at 225 Shoreway Road, Stasiak said.
The truck driver said he did not realize he had hit the woman, Stasiak said.
Police are still investigating the accident, and anyone with information should call Redwood City police at (650) 780-7100.