The road traffic collision on the A158 at Scremby, which occurred just before 12 noon today (February 18) has now been cleared and the road re-opened.
The collision involved a Porsche and a Nissan Qashqai.
The driver of the Porsche was a 53-year-old man from Essex.
He was taken to Boston Pilgrim Hospital with a minor head injury.
The driver of the Qashqai, a 63-year-old man from Horncastle was air-lifted to Hull Royal Infirmary. His injuries are said to be serious, but not life-threatening.
A woman passenger of the Qashqai sustained injuries, but these are not thought to be serious.
The road was closed until about 4.35pm for the vehicles to be recovered.
Incident number 122, February 18.