A 50-year-old man was cycling on Spittal Terrace, near Hamilton Road in Blantyre, when a dark-coloured Vauxhall Insignia car allegedly struck him, causing him to fall off the bike.
The car reportedly did not stop.
Passers-by were able to call an ambulance and the cyclist was taken to the Queen Elizabeth University Hospital in Glasgow, where he was treated for serious injuries.
He now faces months of rehabilitation after fracturing his spine in three places.
Following the incident, Sergeant Raymond Giulianotti, of East Kilbride Police Station, said: “I have no doubt the driver of the car would have known they struck the cyclist.”
Police Scotland said in a statement: “A 34-year-old man has been arrested and charged in connection with a road crash on Spittal Terrace, near to Hamilton Road, Blantyre, in which a 50-year-old male cyclist was seriously injured.
“The incident happened on Saturday, 24 April, 2021.”