Ferrell was one of three people in the SUV when it flipped over after another vehicle side-swiped it, according to TMZ.
We reached out to Ferrell's rep for an update on his condition - so far, no word back.
The dad-of-three was reportedly seen talking on a cellphone as he was being loaded into the ambulance.
On Friday morning, Ferrell's representative told TMZ that the "Ron Burgundy" actor didn't suffer any significant injuries in the accident and was released. Another noted: "Hope you are okay, thinking of you and everyone involved in the accident!" One witness told TMZ a woman in Will's vehicle was seriously injured, and was bleeding profusely on the scene. The news site reports the SUV flipped after it was struck.
Will was one of three people riding in the chauffeur-driven SUV on the way back from a amusing or Die event near San Diego, CA.
"Thoughts and good wishes to Will Ferrell, I hope he's okay". They also executive produce the CBS All Access series No Activity, which was renewed for a second season in February.