Morgenstern, who won two gold medals at the 2006 Turin Olympics and one more at the Vancouver Games four years later, crashed at the venue in Titisee-Neustadt after landing and losing one ski.
He slid down, hitting his head in the process before briefly managing to stand up and falling back down. He was treated nearby before being taken to hospital in Freiburg.
An Austrian skiing federation official told reporters the 27-year-old was conscious and was able to move.
On Saturday Morgenstern had clinched his first World Cup win of the season at the German venue to move into third place in the overall standings.
(Reporting by Karolos Grohmann; editing by Josh Reich)
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