Phillip Sullivan, from Pudsey, was volunteering as a marshal at the top of Canal Road coming just off Stanningley Road between Leeds and Halifax during the final stage of this year's Tour on Sunday.
Dramatic video footage shows the car of competing team Astana, who have since issued an apology, come around the corner and head straight for Mr Sullivan, who leaps out of the way just in time, before the car runs over the central island he was stood on.
A Welcome to Yorkshire spokesperson said: "The race organisers are holding an immediate investigation."
Astana’s sport director, Lars Michaelsen, said: “First of all I want to apologise for the collision I had with the street furniture, riding in the first team car. We also apologised to race organiser ASO and the involved marshal.”