Police said a dark-coloured vehicle travelling north along Albany Highway at Maddington allegedly struck a pedestrian near a 7-Eleven about 7.30pm yesterday.
The man was taken to Royal Perth Hospital with serious injuries and admitted into the intensive care unit.
The driver of the vehicle failed to render assistance and drove away, police said.
The Major Crash Unit has launched an investigation and is urging any witnesses, or anyone who was driving on Albany Highway at the time of the crash, to contact Crime Stoppers on 1800 333 000.
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