Andrew and Jenny Massey were crossing Tipton Road, Woodsetton, on January 26 at 8.30pm when Grant Merridith-Trafford ploughed into them in a powerful Subaru Impreza.
The court heard he was uninsured and without a licence.
Mr Massey, 64, died at the scene and Mrs Massey, 61, was seriously injured and is still recovering from her ordeal.
On Monday at Birmingham Crown Court, Merridith-Trafford pleaded guilty to causing death by dangerous driving, causing serious injury by dangerous driving, driving whilst disqualified, driving without insurance and without a licence.
Wearing a sweatshirt with his hair in a ponytail Merridith-Trafford, of Crescent Avenue, Brierley Hill, winked and waved at supporters in the public gallery before being led away.
Judge Simon Drew KC told Merridith-Trafford: "Sentencing will be on April 25, the maximum sentence for death by dangerous driving has been increased recently so I will have to take that into account."
The previous highest sentence for death by dangerous driving was 14 years, however, this has now been increased to life imprisonment.
The prosecution did not ask for a pre-sentence report on the defendant but did ask for time to compile a victim impact statement and give the latest health issues for Jenny Massey.
The family of Mr Massey led the tributes to him after his death.
They said: "He was a highly skilled, knowledgeable and selfless family man; he was kind and would do anything for anybody.
"He will be greatly missed by his family and the whole community."
The family added: "The family would like to thank passers-by who stopped to assist and thank them for their kindness and quick actions immediately following the fatal incident."
The police investigation was helped by residents across Sedgley and Dudley.
Detective Sergeant Paul Hughes, from the forces serious collision investigation unit, said: "I would like to thank everyone who has contacted and supported us.
"Every piece of information has been useful and we would not be in this position without that information."
He added: "I would also again like to thank the family who have demonstrated patience and control during these devastating times."
After the car struck the couple, it left the scene, police said. An appeal for information was issued for the occupants of the car to come forward.
Merridith-Trafford will be sentenced on Tuesday, April 25 at Birmingham Crown Court.