Police are appealing for witnesses to the pedestrian incident on Ecclestone Road to come forward.
A 31-year-old female was hit by a white Mitsubishi ute about 7.20am on Thursday.
The woman was transported to the Launceston General Hospital by ambulance, but was later flown to the Alfred Hospital in Victoria.
The woman is in a critical but stable condition in the Victorian hospital.
On Thursday police said the woman was wearing headphones as she walked on the left-hand lane of Ecclestone Road at Riverside.
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The woman was walking with her back to traffic.
Tasmania Police Inspector Darren Hopkins said the 19-year-old driver of the ute had the sun in his eyes as he drove east.
The driver immediately turned around and attempted to help the woman, Inspector Hopkins said.
Anyone who saw the ute or the woman walking was asked to come forward to assist police with their investigation.
Information can be provided anonymously by calling Crime Stoppers on 1800 333 000, or by calling Tasmania Police on 6777 3936.