Police say the crash happened Friday around 5:30 p.m. near the intersection of East Atlantic and Bellevue avenues.
Witnesses say the driver hit a 10-year-old child riding a bike with his blue Chevy Silverado pickup truck.
The suspect got out of his truck and checked on the child before speeding off, according to police.
Waterford Township police say they located the suspect's truck unoccupied in a Mount Laurel parking lot early Saturday morning.
The suspect was later identified as 32-year-old William H. Michael who was taken into custody to the Camden County Jail.
Michael faces multiple charges ranging from second degree, third degree, and fourth degree.
The child is expected to be released from the hospital Sunday, officials say.