The car hit the man before the driver made off on foot towards Egton Close, leaving the man in severe pain.
The driver has since been arrested on suspicion of causing serious injury by dangerous driving, failing to stop, driving whilst disqualified and no insurance.
He remains in police custody.
The pensioner was taken to James Cook University Hospital with serious injuries including a broken pelvis, broken back, broken foot and internal injuries.
He remains in hospital in a “serious” condition while receiving treatment.
Any witnesses to the collision are asked to contact Cleveland Police on 101, quoting reference number 075848.