Officers were called around 8.40 a.m. after a collision involving a white Husqvarna motorcycle, a silver Saab 93, and a grey Volkswagen Transporter van near Bucks Cross.
The motorcycle rider, a man in his twenties from Bude, was taken to Derriford Hospital in Plymouth with life-threatening injuries. The other drivers were not hurt.
Road policing and local officers responded, and the road was closed for eight and a half hours to allow for a forensic examination of the scene and the recovery of the vehicles.
Officers are urging anyone who witnessed the collision to contact them. They are especially interested in hearing from anyone who may have relevant dashcam footage.
Please contact 101@dc.police.uk or call 101, quoting log number 171 of June 16.