According to the Missouri State Highway Patrol, the accident happened just before midnight when Chance Cade, 16, was driving east on Missouri Highway 116 and saw a vehicle traveling toward him in the wrong lane.
Cade's vehicle went off the highway and rolled into a ditch on the north side of the highway when trying to avoid the oncoming vehicle.
The vehicle that Cade swerved to avoid continued driving and left the scene of the accident. Troopers say they are still working to identify the make and model of the vehicle.
Cade was ejected from the vehicle and transported by a Caldwell County ambulance to Liberty Hospital where he is being treated for serious injuries.
One passenger, Garland Nelson, 20, suffered moderate injuries but was not taken to a hospital.
The Highway Patrol says neither of the men were wearing their safety belts.