The woman was hit by a number 9 tram at around 11:30 pm on Monday night in Piazza Oberdan, near Porta Venezia, in the city centre.
She died at the scene.
The victim was reportedly a woman in her 20s who lived in the UK and was travelling with friends.
Three others who were with the woman, as well as the tram driver, were taken to hospital suffering from shock.
While the cause of the accident is not clear, local media reports suggested the victim may have slipped on the tracks while crossing the road.
The collision occurred at a point where the tram tracks bend around a corner.