The incident happened just after 2 a.m. at the intersection of Northern Boulevard and Broadway in Woodside.
Authorities say a dark-colored car, possibly a livery cab, struck the cyclist and took off.
Investigators said the bicyclist was holding onto the roof of the car, and was thrown off when the driver turned onto 53rd Place.
The victim was taken to Elmhurt Hospital in critical condition.
The driver was likely attempting to beat a light at the time of the crash, authorities said.
Anyone with information in regards to this incident is asked to call the NYPD's Crime Stoppers Hotline at 800-577-TIPS.