Jackson's bullet-proof SUV was rear-ended by a Mack truck on the Long Island Expressway in New York City, according to the rapper's website thisis50.com.
Jackson, widely known by his stage name 50 Cent, was taken to New York Hospital Queens where he was treated for minor neck and back injuries.
"He was released this morning and is doing fine," Keesha Johnson, the rapper's spokesman at DKC, said in a statement.
Jackson was listed as the fifth-wealthiest hip-hop artist by Forbes in April, with a net worth of $110 million.
He has had two Billboard year-end No. 1 albums. His 2003 debut album, "Get Rich or Die Tryin'", sold more than 6 million copies in the United States, and "The Massacre" from 2005 topped 5 million, according to the Recording Industry Association of America, which tracks nationwide album sales.