David Pregerson, 23, was found in bushes on the side of the road on the 600 block of Chautauqua Boulevard around 3:20 a.m.
Police say the victim was walking home when he was hit by a car, and thrown into the bushes. The driver fled the scene.
Investigators say Pregerson was transported to a hospital in critical condition.
Friends say the victim is a budding filmmaker and recent UCLA graduate.
"David Pregerson is one of my very best friends, he's very loved by everyone in the Palisades community," said Cristos Andrews of Pacific Palisades. "We went to high school together over at Pali high. It's a tragic mystery, and we want to get to the bottom."
Police do not have a description of the hit-and-run vehicle , but they say it has front end damage.
The victim's friends have been canvassing the area where Pregerson was hit, looking for answers.
"David is great, I work with David, and, you know, he is amazing, right now, I think it is just about finding out information, we don't have any information at all, and we just need to get to the bottom of this," said Gregori Martin of Pacific Palisades. "We need to find out who did this, who left him in the bushes."
The investigation is ongoing. Anyone with information on the incident was urged to contact L.A. County Crime Stoppers at (800) 222-TIPS.