The 23-year-old German driver lost control of his Haas car after appearing to clip a kerb at Turn Nine and then went straight into the wall.
He was reported to be conscious and speaking when a medical crew arrived to take him from his badly damaged car to the medical centre at the Jeddah Street Circuit.
Two wheels were torn away from the car in the impact during the Q2 session.
Mick Schumacher removed his gloves
He was reported to have been able to remove his own gloves as he departed in an ambulance.
“We’ve heard that Mick is conscious, out of the car and currently on his way to the medical centre,” tweeted the Haas team.
The session was red-flagged after the estimated 240km/h accident in which the rear of the Haas car was split away from the main body.
It was the second red flag in the session following an earlier high-speed collision by Williams’ Nicholas Latifi in Q1.
By Garrin Lambley © Agence France-Presse