Linsey Godfrey, 26, was walking along a pavement in Los Angeles when a car left the road and hit her, pinning her beneath the wreckage.
According to TMZ.com, eyewitnesses moved quickly to free the actress from the wreckage and an ambulance was called.
Emergency responders moved quickly to rush the soapstar to hospital, where she is now reportedly undergoing surgery.
Neither driver was arrested.
Linsey - who is a cancer survivor and the proud mother of an eight-month-old baby girl - plays Caroline Spencer on the long-running soap The Bold And The Beautiful.
And the soapstar has been overwhelmed with support from friends, family, and fans online.
The Young And The Restless' Kelly Kruger tweeted: "Hey everyone. @linseygodfrey is going to be okay. She is strongest person I know & has all the Drs laughing w her usual hysterical self."
And her former The Bold And The Beautiful co-star Scott Clifton was equally reassuring, writing: "Not my place to pass along medical details, but she's going to be okay. Throughout the trauma, she has remained fabulous."
Jacob Young, who plays Rick Forrester, added: "Please send prayers to @linseygodfrey she is strong and a fighter, but all good thoughts / prayers will help!"
We wish Linsey Godfrey a speedy recovery.