Bufalini Hospital in Cesena confirmed on Monday that the American had passed away, five days after the incident took place.
It was reported last Wednesday that Hayden was struck by a Peugeot which ended with the car's windshield being smashed.
Hayden was then treated by medical staff at the scene of the road accident, before being taken to the local hospital in Rimini where he was being treated for "severe chest and head injuries".
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The Kentucky rider was a former MotoGP world champion who rode for Honda and Ducati for 12 years between 2003-2015, and famously beat Valentino Rossi to the MotoGP title in 2006.
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He switched to World Superbikes for the past two seasons, and won his first World Superbike race at Sepang in Malaysia just one year ago.
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