Police have arrested the driver, who had to be freed by fire crews after the collision on Wigan Road, near Leyland. The 19-year-old, from Ilford in Essex, suffered "serious but not life threatening injuries", a force spokesman said.
Wigan Road was shut for several hours close to the junction with Brookwood Way on Friday night.
Police said a single car - an Audi RS3 - was involved in the crash, which took place at around 8.40pm. It is thought the driver lost control and the car crashed into a lamppost.
Officers believe the vehicle had been stolen from the Blackburn area earlier on Friday.
A Lancashire Fire and Rescue Service spokesman said: "Two fire engines and crews, from Chorley and Bamber Bridge, were assigned to a road traffic collision involving one car, which was on its side with a man trapped inside.
"A second casualty was already out of the car on arrival of firefighters.
"Having stabilised the vehicle using props and winches firefighters rescued the casualty, who was taken to hospital by ambulance."
Police closed Wigan Road between Dawson Lane and Shawbrook Close and motorists were advised to avoid the area.
Officers confirmed in a tweet shortly after 2am on Saturday that the road had reopened.
The condition of the second person is not known.
Police confirmed the 19-year-old has been arrested on suspicion of aggravated vehicle taking, dangerous driving, failing to stop and obstructing police.
Anyone with information is asked to call police on 101, quoting log number 1349 of December 28.