It is believed that the boy left the house he was staying at, made his way to Kyneton-Redesdale Road and was hit by a car travelling south at about 6.50pm (AEST) yesterday.
He was flung to the other side of the road and struck by two cars travelling north. He died on the road a short time later.
Kyneton police said the motorists who struck the boy stopped and tried to give assistance. The motorists have since been questioned.
The boy, who has not been named and lived in Kyneton, had been staying at a house 3km out of the town. Police would not say if the boy was staying with friends or relatives.
Police want to hear from any motorists who drove past the accident, including those who were stopped at a random breath test site on Edgecomb Road, Kyneton, at about 6.40pm.
Police have been told two cars, red and grey in colours, were in the vicinity of the accident and may be able to provide further information.
Victoria’s road toll stands at 109, compared to 111 at this time last year.