Australian Formula One star Mark Webber has been rushed to a Tasmanian Hospital in a stable condition after being involved in an accident during his annual charity event.

Webber was on the bike leg of the annual Mark Webber Challenge when he  hit  a car vehicle on Fortescue Bay Road on the Tasman Peninsula.

The Tasmanian Ambulance Service initially said that Webber had multiple fractures of his arms and legs, but a more recent report says that the injuries are to one leg only.

He was immediately  airlifted to a hospital in the Tasmanian capital city of Hobart.

Webber Challenge media manager Nancy Cook says Webber is disappointed his race has been ended by an accident.

“Mark’s been involved in a minor accident, he’s fine,” she said.

“He’s being treated, he’s really disappointed that he’s not going to be able to continue but he’s well and being looked after.”

The incident could see Webber out of action for at least six weeks, not good considering the major changes to Formula One regulations in 2009.