The man, in his 30's, was bitten on the lower leg at Cobblestones beach in Gracetown just before 8am on Monday but managed to body surf back to shore before friends used rope from his board as a tourniquet.
Surf photographer Peter Jovic was on the beach and witnessed the surfer being mauled by the shark, ABC News reported.
A shark attack on a surfer in Australia has forced the temporary suspension of an worldwide surfing competition.
A witness to the Gracetown shark attack spoke to ABC Breakfast about the incident.
The man was conscious and breathing when paramedics arrived and has been flown to Royal Perth Hospital.
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'There was a lot more thrashing around.
Another radio caller said other surfers had been spooked by the shark and had started leaving the water just before the attack happened.
The Surf Life Saving WA Westpac Lifesaver Rescue Helicopter will also conduct aerial patrols.
The Margaret River Pro worldwide surfing competition which is taking place nearby has been put on hold while organisers wait for information from local authorities.
Gracetown beaches, including North Point, Big Rock and Lefthanders, have been closed.
"We are placing the Margaret River Pro on hold while we work with local authorities on next steps".
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It seems like the waters were a little risky due to a whale carcass nearby.
Opposition Leader Mike Nahan said the attack would make worldwide news because of the Pro event.
A spokeswoman for the event said the surf contest was under way at Margaret River's main break at the time of the attack.
The league added: "Surfer and staff safety are top priorities for the WSL and when competition resumes, further enhanced safety measures, including ski and drone presence, will be added to the event's mitigation protocols".
"The current policies are simply not adequate".
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