Pc Jon Casey from the East Area Command was struck by a car on Monday, January 6, which had failed to stop for police in Chigwell Road, near Saint Barnabas Road, in South Woodford.
The father-of-three was attempting to deploy a stinger when he was struck by the grey Mini Cooper, which was being driven on false '67' year plates.
The vehicle sped away from the scene and Pc Casey was taken to hospital with multiple injuries.
Mark Glock, a colleague of the officer, hopes to raise £1,000 to help his family while he is off work.
"Pc Jon Casey was involved in a incident which resulted in him being hit by a vehicle which did not stop," Mr Glock said.
"This has caused multiple injuries which have required surgery and will take a significant time to heal.
"This money will go towards making his time off work more bearable and to assist his family."
Donna Casey, Pc Casey's wife, posted a picture of her husband's injuries on social media in a bid to get witnesses to come forward following the incident.
Posting on Facebook, Mrs Casey said: "This is my husband Jon Casey who is the police offer that was run over today in Woodford Bridge by driver of car that failed to stop for police.
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"He is a father of three boys, a son, a brother and my best friend."
You can donate to the fundraising page here
Following the incident, the car involved was found abandoned in Woolhampton Way, Chigwell.
A 29-year-old man and a 24-year-old man arrested on suspicion of assisting an offender have both been released under investigation and enquiries continue to trace the driver.
Detectives have released an image of the suspect vehicle and are appealing for information of its movements before and after the incident.
Det Sgt Jose-Paulo Qureshi said: "The officer was simply doing his duty when he was struck by the vehicle and was seriously injured - he's lucky not to have been killed.
"The suspects fled the scene, despite knowing they had hit an officer, leaving him seriously injured in the road. We are working around the clock to find the people responsible.
"I would appeal to those who were involved to do the right thing and hand yourself in.
"I'd also appeal to members of the public to help us with our investigation. Did you see a grey Mini Cooper on '67' plates driving erratically or at speed in the Woodford Green or Chigwell areas between midnight and 12.45am on Monday, January 6?
"If you have any information about this vehicle, or dash cam footage, please get in touch with us as a matter of urgency."
Anyone with information or dash cam footage is asked to call the Incident Room on 020 8597 4874, police on 101 quoting CAD 0043/6JAN or the independent charity Crimestoppers 100pc anonymously on 0800 555 111.