The 86-year-old was standing at a podium in Tel Aviv when he dramatically collapsed. He was then rushed to hospital but according to his officials has since been discharged.
His spokeswoman blamed a busy schedule for the collapse but said he would be fine to meet with US Middle East envoy George Mitchell later on Sunday.
Speaking to the Israeli Ynet website, Mr Peres's doctor, Rafi Valdan, said the president had simply fainted.
'It was simply very hot and he stood up for a long time and felt dizzy. He fainted for a few seconds, 'he said.
The doctor added: 'He feels fine, he's smiling, and he's on the phone with the whole world.'
Dr Zeev Rothstein, director of the Sheba Medical Centre, said: 'I can say to everyone that we have a president who is dynamic, young at heart and physically healthy.
'I can say to everyone that we have a president who is dynamic, young at heart and physically healthy.'
Mr Peres was elected in 2007 for a seven-year term as president. In 1994 he was handed the Nobel Peace Prize for his part in signing the Oslo peace accords.
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