The 17-year-old, who cannot be named, was one of three teenagers arrested following the death of Joan Price on the A77 in Ayr on 30 January.
At Ayr Sheriff Court Logan Knox, 19, of Girvan, was sent for trial, accused of causing death by dangerous driving.
He was also accused of perverting the course of justice. He made no plea and was remanded in custody.
Last week John Gribben, 18, of Ayr, was freed on bail after making no plea to similar charges.
Ms Price, a 59-year-old musician, from Troon, died at the scene of the collision on the A77 near Holmston roundabout.
A teenager arrested after a woman died in an alleged hit and run crash has been freed by prosecutors.