The crash happened around 8:00 a.m. in the northbound lanes of the highway at mile marker 29.9 in Cherry Hill.
New Jersey State Police say a tractor trailer going northbound on the turnpike lost a rim from one of its tires.
That rim hit another tractor trailer, which overturned - trapping the driver.
Once he was freed by rescue personnel, he was flown to Cooper University Hospital with serious injuries.
Two cars were also involved in the accident, though no other injuries were reported.
However, there were intermittent lane closures for two hours, leading to major traffic backups.
"We came down here to buy cars for our store at the auto auction off Exit 7. We got stuck in traffic, so it looks like we won't be buying any cars today," said Jeff McKibben of Felton, Delaware.
Action News is told one of the tractor trailers was carrying a load of fuel. There was no leak reported.
A second accident happened in the southbound lanes at mile marker 32.5. However, that crash has since been cleared.