The 89-year-old has suffered complications from hip replacement surgery in recent months, with his health worsening in the past week, Sunrise entertainment reporter Peter Ford said.
He was in hospital in Sydney as of Wednesday, and while there were serious concerns about what came next, he was under great care, Ford said.
"Things are tough, and all we can do at this point in time is to basically give a big shout out to Barry Humphries and say, 'Australia loves you and we will always be grateful for everything you have given us'," Ford said.
Humphries, born and raised in Melbourne, has delighted and outraged audiences for decades as an entertainer and man of a million masks - his most famous, Dame Edna.
The comedian was last year touring the United Kingdom with his show The Man Behind the Mask.