Police closed Flensburg Way near Farington Waste and Recycling Centre after the crash at around 8.30am.
The man has been taken by ambulance to Royal Preston Hospital with injuries to his head and hands.
Flensburg Way was closed for around three hours between the Tank Roundabout and Croston Road roundabout whilst emergency services worked at the scene.
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A diversion is currently in place with motorists asked to take Flensburg Way to Earnshaw Bridge and then take Longmeanygate towards Leyland Lane and Croston Road in Farington Moss in order to rejoin the A582 Farington Road.
A police spokesman said :"We were called at around 8.25am this morning to the report of a collision in Flensburg Way, Farington Moss involving a cyclist and HGV
"The cyclist suffered suspected head and hand injuries and he was taken to Royal Preston Hospital.
"There is currently a road diversion in place and we are asking people to avoid the area."
Anyone with information is asked to call 101 quoting incident reference 353 of July 19.
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