Surgery to address the orbital fracture in his left eye will be performed in the coming days, the team said.
ESPN's Zach Lowe reported that, pending the results of the surgery, Embiid could return in two to four weeks. The 76ers have clinched a spot in the playoffs, which begin April 14.
Embiid took to Twitter later Thursday to reassure supporters he's already set his sights on returning to action.
He was initially evaluated in the locker room and later taken to Jefferson Hospital for further evaluation and testing.
Immediately following the injury, Embiid passed the NBA's locker room concussion assessment tool. However, he later began experiencing symptoms. He has been put in the NBA's concussion protocol.
Embiid was released from the hospital Thursday but will not travel with the team to Atlanta for Friday's game against the Hawks, the Sixers said.
Fultz was driving toward the basket 20 seconds into the second quarter when he collided with Embiid, who immediately went to the floor.
Embiid remained on the floor before finally being assisted by Philadelphia's trainer. Fultz was not injured on the play.