The PSNI says that at around 6.35 pm police received a report that a cyclist had been struck by a car approximately two miles from Moneymore.
Emergency services attended and the 44 year old cyclist was transferred to hospital.
His is now considered to be in a serious condition.
The dual carriageway was closed to Cookstown bound traffic for a time but has since re-opened.
Anyone with information about the incident is asked to contact police on the 101 non-emergency number..