The newspaper Ultimas Noticias reported on its website that Venezuela's vice-president Elias Jaua told state television the player, who was not identified, had been taken to a medical center and was out of danger.
The incident occurred on the second day of the tournament, which is being held at the Jose Antonio Casanova stadium in Fuerte Tiuna, a military garrison in Caracas.
The Australian Baseball Federation issued a statement saying their team were at the stadium at the time of the incident as they were due to play in the next game.
"Needless to say, the game was abandoned and all teams were ushered immediately back to their hotels under tight security," ABF said. "We can confirm that Team Australia is safe and well in their hotel."
(Writing by Rex Gowar in Buenos Aires; Editing by Greg Stutchbury; to query or comment on this story email firstname.lastname@example.org)