A second man said to be aged in his 50s was also taken to hospital.
The incident took place in Dungannon’s Scotch Street around 10.30am.
Police said the two men sustained a number of injuries when a Volvo car collided with a parked Volkswagen.
The air ambulance was tasked to the scene along with crews from NI Ambulance Service.
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Malachi Cush broke into the music business after making the final of the first series of the television show Fame Academy in 2002.
He had a top 20 hit in the UK charts with his debut solo album, and was a number-one selling artist in Thailand.
Last night, a spokesman for the Belfast Health Trust described the singer’s condition as “stable”.
PSNI sergeant David Cochrane has urged anyone who may have witnessed the collision to contact police immediately on the non emergency 101 number.
“We are looking into the cause of the collision and would be keen to hear from anyone who was in the area and saw what happened, or who may have captured dash-cam footage,” he said.
The chair of Mid-Ulster Council, Councillor Martin Kearney, said both men were well-known in the Dungannon and wider areas.
“My thoughts are with the injured men and their families,” Cllr Kearney said.
“Both those who have been taken to hospital are well-known in the community. There will be shock at the news. We can only hope and pray,” added Cllr Kearney.