The child, aged 7, was taken to Leeds General Infirmary after falling from the Twister rollercoaster at the theme park on Thursday, May 30.
He was treated at the scene, for what were initially believed at to be non-life threatening injuries, and later airlifted to hospital where his condition was described as stable but critical.
Today, a North Yorkshire Police spokeswoman said the boy is now breathing independently and his condition continues to improve.
North Yorkshire Police is assisting the Health and Safety Executive who has primacy in the investigation.
Following the incident the ride was immediately shut down though the rest of the park remains open.
A spokesman for Lightwater Valley said on Thursday: "Further to our earlier statement concerning the incident on one of our rides this morning, we can confirm that Health and Safety Executive (HSE) personnel are now on-site and we are assisting them as required.
"We take the health and safety of our visitors very seriously and are committed to providing support to the affected family.
"We will continue working closely with the HSE and emergency services. The ride concerned will remain closed until a full investigation has taken place.
"We will provide updates when new information becomes available."