The accident occurred on the 900 block of Pleasant Hill Road in Hockessin, Delaware at around 11:00 a.m. Saturday.
According to police, the accident happened after the driver, who was traveling at a high rate of speed, lost control of the vehicle and hit a tree.
It took rescue crews about 90 minutes to free the teens from the car.
They were then flown to Christiana Hospital.
The driver is said to be suffering from a broken pelvis and other internal injuries. He is listed in stable condition.
The passenger is said to be in good condition.