The crash occurred during a practice lap at the classic Daytona track on Wednesday, the Reaume team said.
It is not clear what injuries Muniz may have sustained in the accident. He was taken to hospital but is said to be conscious.
Frankie Muniz is perhaps best known for his leading role in the 2000s series "Malcolm in the Middle".
The 40-year-old Muniz, who has more than one string to his bow, broadened his career after the success of the TV series and became a racing driver in one of NASCAR's classes.
Earlier this year, a sequel to the TV series aired, in which Muniz reprised his role as Malcolm as an adult.
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