The 36-year-old was being driven on a motorway in the city when his 4x4 was apparently hit by a truck.
According to several sources the truck driver, who was also taken to hospital, told the police he lost control of his vehicle.
Unconfirmed reports claimed the rapper's car had nearly been flipped over in the collision.
A representative for the entrepreneur, investor, record producer and actor said he had been admitted to a hospital in the Queens area of the city.
He said 50 Cent, whose real name is Curtis Jackson III, had been treated for minor neck and back injuries and was now "doing fine".
Bruce Miller, who was driving the car and was also injured, has also been released from the hospital.
Photos of 50 Cent were posted on the thisIs50.com website.
Several pics showed him wearing a neck brace and being wheeled into hospital on an ambulance trolley.
Other images showed the damage done to the back of 50 Cent's car and the front of the truck.
Fifty is no stranger to injury.
In May 2000, he was shot nine times, hitting his hand, arm, hip, legs chest and cheek.
The wound to his face left him with a swollen tongue, a missing wisdom tooth and a slight slur.
The alleged gunman, Darryl "Hommo" Baum, was killed three weeks later.
Fifty said of the incident: "I was scared the whole time.
I was looking in the rear-view mirror like 'Oh ****, somebody shot me in the face! It burns, burns, burns."
He wrote in his autobiography: "After I got shot nine times at close range and didn't die, I started to think that I must have a purpose in life.
"How much more damage could that shell have done? Give me an inch in this direction or that one, and I'm gone."
