There are grave fears for an elderly man hit by a car in Brisbane’s inner city.

The man, aged in his 70s, was hit by a car on O’Keefe Street, near the intersection of Wolseley Street, in Woolloongabba at about 12.08pm on Wednesday.

Paramedics rushed to the scene and treated the man for life-threatening head injuries before he was taken to the Princess Alexandra Hospital in an unknown condition.

Ambulance crews remain on scene treated the driver for emotional distress.

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Queensland Police said diversions are in place and the Forensic Crash Unit is attending.