The 54-year-old cyclist was hit by a 4x4 vehicle, whose driver moments afterwards fled the scene.
The accident happened at the 9.200 kilometre of the M-12 road running between Artà and Can Picafort.
Officers from the Traffic department of the Guardia Civil undertook investigations and a man was arrested later the same day, charged with failing to stop after the accident.
Guardia Civil sources said that the man who was killed was riding with a group of companions when for reasons which are as yet unclear, the driver of the 4x4 vehicle ran into the cyclist knocking him to the ground before fleeing the scene.
After the alarm was raised, a number of ambulances with life-saving equipment on board had come from Artà, but the victim reportedly died at the scene of the collision despite the repeated efforts of paramedics to revive him.
Various witnesses said that the accident had happened because the 4x4 vehicle had not been keeping a safe distance from the cyclists.
The Guardia Civil had asked for the collaboration of all Local Police units to help track down the 4x4 vehicle. It was spotted in a carpark in Artà that afternoon.