Hayden, 46, posted pictures on Instagram of his bloodied head in a neck brace after the incident off Stradbroke Island in Queensland off the east coast of Australia.
The prolific batsman also suffered torn ligaments in the accident while out surfing with his son Josh.
“Took on Straddie back bank yesterday with @josh_hayden28 and lost!!!” Hayden wrote on Instagram.
Hayden, who played 103 Tests for Australia between 1994 and 2009, later underwent scans and says he is “on the road to recovery.”
“Just wanted to say a big thank you to all our mates on Straddie who have been so supportive,” he added on Instagram.
“Especially Ben & Sue Kelley for the fast diagnosis with MRI, CT scan. Fractured C6, torn C5,C4 ligaments safe to say I truly have dodged a bullet.”
Hayden scored 8,625 Tests runs with 30 centuries for a career average of 50.73, making him 20th on the list of all-time Test run scorers.
In 161 one-day international matches he scored 6,133 runs at an average of 43.80.