Rescuers battled for nearly 20 minutes to revive the 88-year-old after his heart and breathing stopped while he was eating with his family near the Santiago Bernabeu stadium in central Madrid yesterday.
"He had suffered a cardiorespiratory arrest," a source at Madrid Emergency Services told AFP.
"The emergency services began resuscitation and after 18 minutes managed to get him out of the arrest and he was taken in a serious condition to the Gregorio Maranon hospital."
"His status is that he is in a coma and we are keeping an eye on his progress," he told AFP.
Leading newspaper El Pais said Di Stefano had been eating with his family when he felt ill and sat down on his wheelchair. By the time an ambulance arrived he was in cardiorespiratory arrest.
Real Madrid said in a brief statement on their website that club president Florentino Perez had visited Di Stefano in hospital.
Di Stefano had been hospitalised seven times for similar episodes, and underwent emergency quadruple heart by-pass surgery after suffering a major heart attack in 2005.
He was born in Buenos Aires and began his professional career with hometown club River Plate in 1945 before leaving for Colombian outfit Millonarios four years later after the Argentine league ground to a halt following a pay strike.
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