Gabriel Isaac Fields, 19, from Kirkham, suffered multiple injuries after being struck by a car, and despite the efforts of emergency crews, died a short time later.
In a tribute university student, Gabriel's family said: "Sadly, last night on the 4th July 2020 our handsome son Gabriel Isaac Fields was tragically taken away from us.
"Gabriel was a kind, loving, and intelligent young man. He was an amazing son, brother and friend.
"Gabriel had a bright future ahead of him and had just completed his 1st year studying psychology at Salford University.
"Upon his return from university Gabriel had been working in a local convenience store, and had become a key and hard working member of the team.
"Gabriel always found time for others, in particular his younger sister who adored him ‘to the moon and back.’
"We love you Gabriel.
"We ask that our privacy be respected during this difficult time."
Emergency services were called at shortly after 10pm to reports that an Audi S3 had been involved in a collision with a pedestrian at the junction of Station Road and Nelson Street.
The driver of the Audi, a 30-year-old man, suffered serious injuries and was taken to hospital along with three passengers from the car who suffered more minor injuries.
The road was closed for six hours while the incident was dealt with and enquiries are on-going.
Sgt Martin Wilcock, of Lancashire Constabulary’s Tac Ops, said: “This is a tragic incident where a young man has lost his life and my thoughts are with his family and friends at this time.
"A number of other people have also suffered significant injuries. I would appeal to anyone who witnessed the collision itself or the car involved in the moments prior to the collision or driving at speed in the Kirkham area earlier in the evening to get in touch with us.
"I would also appeal to anyone who may have CCTV in the area or any dashcam footage which may assist to contact us.”
Anyone with information should contact police on 101 quoting log number 1535 of July 4th.