The 81-year-old, who reports claim was not wearing a helmet, was airlifted to Ryder Trauma Center in Miami with "serious" injuries, according to the highway patrol.
Highway patrol reports that the veteran actor was thrown from his bike when a Toyota Tundra pickup struck his bicycle's rear tire. Alcohol reportedly did not play a factor in the crash.
Susan Madore, Hackman's publicist, downplayed the incident, saying, "Gene's fine. ... Just a few bumps and bruises. He is already on his way home."
Hackman won an Academy Award for best supporting actor for 1992's "Unforgiven" and prior won best actor for his role in "The French Connection" in 1972.
Information about the person driving the car, or whether charges have been filed in the incident, has yet to be released.