Lawler collapsed at a World Wrestling Entertainment event at Montreal's Bell Centre on Monday night.
A statement issued by the WWE at noon today said Lawler is in a cardiac unit in a Montreal hospital and that all his vital signs are stable.
The brief statement said went on say that the WWE continued "to wish Jerry all the best for a full recovery."
A spokeswoman said the WWE would not be providing any additional comments beyond what is in the statement and no interviews are being granted.
WWE.com said earlier that the longtime wrestler, and commentator, collapsed at the announcers' table and was tended to in the locker-room area by WWE medical staff.
On Monday night, broadcast partner Michael Cole addressed the event's television audience and said the situation was serious but that Lawler was breathing on his own.
The 62-year-old Lawler, who mainly works on WWE broadcasts as a commentator, was involved in a match earlier on Monday night's broadcast.
"I'm shaken by the news of my friend Jerry Lawler's medical emergency in Montreal," tweeted longtime broadcast partner Jim Ross. "Hands shaking. Prayers for the King. I feel helpless."