Galo Ramirez, 24, was booked on suspicion of assault with a deadly weapon after running into Lohan's car Tuesday, police said.
Ramirez was released on $35,000 bail, a watch commander at the Los Angeles Police Department's Wilshire station said Wednesday.
"I thank God my daughter was able to walk out of the car," Lohan's mother, Dina, said in a statement released by a publicist for the 18-year-old actress.
Lohan's new film, "Herbie: Fully Loaded," will be in theaters June 22.
Lohan's first starring role was that of the twins in the 1998 remake of "The Parent Trap." She was only 11, but she had started her career as a model at the age of 3 and went on to work in TV commercials, including one for Jello-O with its famous spokesman, Bill Cosby.
The young actress also had recurring roles on two daytime dramas ("Guiding Light" and "Another World").