Crews were called to The Green by a concerned neighbour who spotted the bike on fire at around 8.35pm yesterday evening.
Firefighters used a hose reel to extinguish the blaze.
A spokesman for the fire service said: "We received a 999 call yesterday evening reporting a bike on fire in Ribbleton.
"The bike appears to have been abandoned and was completely destroyed.
"The police have been informed and an investigation has been launched into this fire which we believe may have been started deliberately."
Nobody was injured during the blaze.