Authorities were hoping the device may reveal clues about the circumstances of his skiing accident in the French Alps, a source told the AFP news agency.
Police also interviewed Michael Schumacher’s teenage son, who witnessed the crash.
Fans earlier held a vigil outside the French hospital treating the F1 legend, to mark his 45th birthday.
Ferrari supporters gathered at the clinic in the city of Grenoble and held a one-minute silence on Friday afternoon.
Michael Schumacher’s family said in a statement they had been moved to tears and “utterly overwhelmed” by the “incredible sympathies” shown by the fans.
The seven-time F1 champion, who retired in 2012, is in a medically induced coma after suffering head injuries during a fall in the resort of Meribel last Sunday.
His helmet cracked on impact when he hit a rock while skiing off-piste.
Michael Schumacher remains in a stable but critical condition after two operations to remove blood and pressure from his brain.
News of the camera’s existence emerged late on Friday afternoon.
AFP said Michael Schumacher’s family had handed both the device and helmet to the authorities for investigation.
It remains unclear whether the camera was switched on at the time of the accident.
The news comes after members of Ferrari clubs in France and Italy travelled to Grenoble to mark Michael Schumacher’s birthday on January 3rd.
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