Spaniard Carlos Sainz crashed heavily into the barriers and brought a halt to final practice for the Russian Formula One Grand Prix on Saturday.
Television images showed the 21-year-old rookie driver, strapped to a stretcher, giving a thumbs-up sign after being extracted from the wrecked Toro Rosso car and taken to a waiting ambulance.
The team said in a statement: "Following Carlos Sainz’s accident during FP3 today in Sochi, the driver is perfectly conscious and was able to talk to the extrication team. Once out of the car he was taken to the circuit Medical Centre, where he underwent an initial assessment of his condition.
"He has now been taken by air ambulance to the Sochi Hospital 4. Investigations on the reasons for the accident will take place once the car is back in the team’s garage. Further information will be released by the team and the FIA to the media when it is available."
Video replays showed the car snapping left and hitting a concrete wall, then skidding along at speed in a cloud of debris before slamming into the TECPRO impact-absorbing barriers at Turn 13.
The nose of the car, with the front left wheel dangling on tethers in front of the driver, was then buried deep into the barriers.
"Is he OK? Because it looks like a big one," Sainz's team mate Max Verstappen over the team radio as the medical car attended the scene of the impact and the paddock collectively held its breath.
"We lost the power on the car, we don't know," came the initial reply.
In an indication of the severity of the accident, race officials said the session -- which was halted with 25 minutes remaining and the clock still counting down -- would not be restarted.
Qualifying was due to start at 15:00 pm local and drivers have had little time to set their cars up for the track after Friday's two sessions were hit by a morning diesel spillage and afternoon bad weather.
Tweet from Sainz in hospital: