Former Portland Trail Blazers centre Sabonis, 46, was taken to hospital by ambulance from a sport hall where he had played a pickup game in his home town of Kaunas on Tuesday evening.
"He is feeling really well and recovering fast," Mindaugas Balciunas, general secretary of the Lithuanian Basketball Federation who visited Sabonis in hospital on Wednesday, told Reuters.
"He is in a great mood and he is not going to change his plans to run for the federation's president on October 24,"
Sabonis played for the Trail Blazers from 1995-2003 and was inducted into the Naismith Memorial Basketball Hall of Fame in August. A year ago he was inducted into the FIBA Hall of Fame.
He won a gold medal with the Soviet Union's team at the 1988 Seoul Olympics and two Olympic bronze medals playing for Lithuania in 1992 and 1996.