The ABC South East Asia correspondent was covering the Philippine military’s recovery operation of parts of the besieged city from IS militants when the incident happened.
In recent days Harvey had been reporting of the military’s use of fighter jets and helicopters to repel militants from the city.
In videos posted on social media, Harvey can be seen receiving medical treatment with a neck brace and a protective helmet.
“I’m fine, I’m just going to get an X-ray to get it checked out,” he says.
“I just felt like something (inaudible) in the side of the neck, a piece of shrapnel.”
Harvey later shared a picture of his X-ray showing the bullet lodged in his neck.
His sister and fellow journalist Claire Harvey said he was doing ok.
“We thought it was shrapnel but it was a bullet that got him in the neck,” she told 2gb radio.
“There’s some suggestion it’s still in his neck.”
CNN quoted Philippine presidential spokesman Ernesto Abella reminding journalists covering the conflict to “remain objective”.
"I think they should try to be objective as possible. And to see it in the context that this is really a... That this is basically an action of rebellion,” he said.
“And that they see it along that line, they report along these lines, that they are objective. Stay out of trouble.”