The man, who has not yet been named, was rescued at an altitude of 7,500 metres on the northern slopes at 7pm on Wednesday, China Daily reports. Up to four crew members from the Tibet Himalaya Expedition Company bought the man back down the same evening he was found. He was reported to be unconscious and in a critical condition.
By Thursday morning, the climber was taken to Base Camp and transported to hospital, where he remains.
His condition has now stabilised.
A Department of Foreign Affairs and Trade spokeswoman said they are “providing consular assistance to an Australian man hospitalised in Kathmandu”.
She told Daily Mail Australia: “For privacy reasons we are unable to provide further details.”
The man’s condition comes after 10 climbers died in nine days on Everest.
Locals have blamed the staggering amount of deaths on clogged up routes.
Those attempting Everest have been waiting in queues while people take pictures and selfies and as a result sucking up mountaineers’ limited oxygen supply and exposing those waiting their turn to harsher climates for a longer period of time.
Irish professor Séamus Lawless was one of the first of the nine, who was presumed dead after he went missing on May 16.
The search operation to find him was subsequently called off.
Up to four people from India, one Australian, one from Nepal and one American died this week, followed by Irishman Kevin Hynes, 56, who died on the Tibet side of Everest on Friday.
Robin Haynes Fisher, 44, collapsed and died on Saturday when he was 150m from the peak.
The Briton died in the so-called ‘death zone’, known for low oxygen levels and crowding.
In one of his last social media posts he said he was forced to change his climbing plans to avoid the “fatal” crowds.
He said: “With a single route to the summit, delays caused by overcrowding could prove fatal so I am hopeful my decision to go for the 25th will mean fewer people. Unless of course everyone else plays the same waiting game.”
Mr Fisher was described as an “aspirational adventurer” who “lived life to the full” in a statement made by his family.
Other deaths have been attributed to weakness, exhaustion and delays on the crowded route to the 29,030-foot (8,850-metre) summit, officials said.
Mount Everest is Earth’s highest mountain above sea level, located in the Mahalangur Himal of the Himalayas.
The international border between Nepal and China runs across its summit point.