Frank Lucas, 30, now faces a felony charge of failure to stop after striking the boy. He will appear before a judge Friday.
Lt. R.M. Hayslip said the crash happened around 10:45 p.m. Tuesday as the boy rode his bike down Branch Hill-Guinea Pike near Paxton-Guinea Road. After Lucas fled the scene, a medical helicopter transported the victim to Children's Hospital, according to Hayslip.
Milford Exempted School District officials confirmed Wednesday morning the boy injured in the collision was a student there.
"We are incredibly saddened by this tragedy and our hearts go out to the victim and his family," district spokeswoman Meg Krsacok said.