The 72-year-old former Tonight Show host was set to make an appearance at The Financial Brand Forum on Sunday (13 November).
In a statement sent to Variety, Leno said: “I got some serious burns from a gasoline fire. I am ok. Just need a week or two to get back on my feet.”
In an email sent to attendees at the Vegas conference, organisers wrote: “His family was not able to provide us very many details, but there was a very serious medical emergency that is preventing Jay from travelling.
“All we know is that he is alive, so our prayers go out to him and his family tonight.”
TMZ reported earlier today (14 November) that Leno was in his Los Angeles garage where he stores his cars when one of them suddenly erupted into flames.
A source claiming direct knowledge of the situation told the outlet that Leno was admitted to Grossman Burn Center.
He was apparently admitted with burns to the side of his face.
The Independent has contacted Leno’s representative for comment.
Leno is famously known for his extensive car collection, which is said to include around 180 cars and 160 motorcycles.
In 2015, he launched his CNBC series Jay Leno’s Garage which ran for seven seasons, with its final episode airing at the end of last month.
From 1992 to 2009, Leno hosted NBC’s The Tonight Show, after succeeding former host Johnny Carson. He later exited the show to begin his own NBC primetime talk show, The Jay Leno Show, while Conan O’Brien took over the former.
However, when ratings plummeted on The Tonight Show, Leno was reinstated once again as host in March 2010, where he stayed for another four years before Jimmy Fallon replaced him in 2014.