Just after 11am, the woman was standing next to her silver Mercedes which was parked in a designated parking space off the roadway on the eastern kerb of Highland Avenue, when she was struck by an early 2000s model white Toyota Camry travelling south and thrown to the ground.
The driver failed to stop and the car was last seen turning left into Marion Street.
A witness rendered first aid before calling emergency services.
The woman suffered pelvic and abdominal injuries, and was treated at the scene by paramedics before being taken to hospital.
Investigators are appealing for anyone with information or dashcam vision to contact Crimestoppers, 1800 333 00.
Appeal for witness after woman hospitalised in hit, run accident
POLICE are appealing for information about a hit and run in Bankstown, seriously injuring a 71-year-old woman last Wednesday.