The woman was struck on a crossing at the tramway outside the former Miner’s Convalescent Home on the Promenade shortly before 12pm.
Police cordoned off the tracks whilst paramedics attended and she was taken to hospital by ambulance.
The woman’s age is unclear at this stage, with police reporting that she is in her 50s and the ambulance service stating she is aged in her 20s.
North West Ambulance Service said the woman has suffered “serious but not life threatening injuries”.
She had been walking a dog at the time of the collision, which was taken to a vet and given a full inspection. Fortunately, he is said to be “in fine order with no injuries”.
"Emergency services attended and the woman, in her 50s, was taken by ambulance to hospital.
"Enquiries are ongoing.”
Blackpool Transport suspended all tram services until further notice whilst an investigation was carried out.
A spokesman for North West Ambulance Service added: "We were called to the scene at 11.52am and the incident was attended by a response vehicle, an ambulance and an emergency doctor.
"A woman in her 20s was taken to hospital.”
The ambulance service said it was unable to comment on her injuries at this stage.