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The victim, a 40-year-old Traralgon man, was discovered on the Princes Freeway overpass in Morwell, roughly two hours south-east of Melbourne.
Authorities suspect the man was struck by a vehicle that failed to remain at the scene.
Police were alerted to the incident around 9am today.
The Major Collision Investigation Unit is leading the inquiry and believes the man was hit by a vehicle sometime between 1am and 9am.
Traffic diversions are in place around the site and are expected to remain for much of the day.
Investigators are urging motorists who were in the area to review their dashcam footage, as it may show the man walking or possibly capture the vehicle involved.
Anyone with relevant information is encouraged to contact Crime Stoppers.
