Officers investigating the incident say it happened at around 1.30am on Sunday, April 30 when a Toyota Pickup travelling along Higher Road collided with an Audi A3 which was travelling in the opposite direction.
The Audi then collided with a wall.
A spokesman for the police said: "We were called to two-vehicle accident on Higher Road in Longridge. The Toyota is thought to have left the scene before police arrived.
"The driver of the Audi, an 18-year-old woman from Longridge, suffered cuts to her face as a result of the collision.
"The Toyota was later located and it was established that the passenger, a 24-year-old man from Goosnargh, suffered serious spinal injuries and remains in Royal Preston Hospital.
"The driver of the Toyota, a 23-year-old man from Longridge, is assisting officers with their enquiries."
Police are now appealing for witnesses following the collision.
PS Oliver Jones of the Road Policing Unit said: “This collision has left a young man with serious injuries and we are appealing to anyone who was in the area at the time and may have witnessed what happened to contact us.”
Anyone with information can contact police on 101 quoting log 173 of April 30.