A 61-year-old man was arrested on Saturday night over the incident, and on Sunday afternoon police laid a number of charges.
He faces charges of wounding with intent to cause grievous bodily harm, driving while unlicensed, and driving while prohibited.
He is expected to appear in Whanganui District Court on Monday.
Mr Minnell was originally rushed to Whanganui Hospital in a critical condition, and was later airlifted to Wellington Hospital's intensive care unit.
On Sunday, a Capital and Coast District Health Board spokesman said he was "stable".
Police are no longer seeking anyone else over the alleged hit and run.
Officers were called to the area outside the Red Lion Inn after reports of a brawl between 10-15 people, which started just before 2.20am on Saturday. Within the space of about four minutes, the man was hit by the car, and the driver fled the scene, a police spokeswoman said.
It is not known whether the two incidents were related.
"It was sickening ... pretty awful," said witness Darryl Mallett who had just crossed the City Bridge at the time of the incident.
"I heard a loud bang and then lots of people screaming. The car took off and there was this young guy lying on the grond in the middle of the road."
Mr Mallett, a well-known radio breakfast host with Whanganui station The Hits, had been out for a few drinks in the town centre and was at the bottom of the Durie Hill steps.
"It was horrendous ... it's all a bit of blur after that," he told the Chronicle.
