It is alleged a dispute between two men occurred on Derwent Drive near Hercules Street in Long Gully in central Victoria, when a 51-year-old man was allegedly hit by a car at about 9.45pm.
A man from Long Gully was flown to hospital with life-threatening injuries.
A 30-year-old Long Gully man has been arrested and is assisting police with their enquiries.
Police are asking anyone with dashcam footage, CCTV or information to call Crime Stoppers on 1800 333 000.