O Liberal reported the 23-year-old had left a nightclub in his home city of Sao Paulo at 3am when he was targeted by robbers.
The Spurs star was taking photos with an off-duty police officer when an individual pointed a gun at him and demanded his belongings.
The officer reportedly opened fire after spotting the robbery attempt, allowing Emerson to flee the scene unscathed.
Reports claim a total of 29 shots were fired at the mugger with one bullet hitting him in the back.
According to UOL, the assailant was taken to hospital and underwent surgery on Friday to remove the bullet.
The player's agent confirmed details of the episode and, according to Jovem Pan Esportes, he is believed to be 'shaken up' by the incident.
Emerson's father gave his version of Friday morning's events, describing the incident as a horror scene.
"I was celebrating and on the way out, this whole affair happened, which was very bad," he told Globo Esporte. "A horror scene indeed. I don't wish that on anyone."
"He [the policeman] went with Royal to the car and when he realised there was a robbery and the criminal was pointing the gun at Emerson, at the time the criminal got distracted, the policeman started to exchange shots with him.
"There were around five or six people with him. Each one went to a side running, dodging, because they didn't know where the shots were coming from."
Emerson then posted a brief message on Instagram that read: "I will speak shortly about the event.
"Thank you for everyone's concern. Thank God I'm fine."
Emerson joined Tottenham from Barcelona for £25.8million last summer and made his debut in Spurs' 3-0 defeat at Crystal Palace in September.
The Brazilian scored once in 41 appearances this season in Spurs' 5-1 thrashing of Newcastle United in early April.
He has seven caps for the Brazil national team and made his debut in a 3-0 victory over South Korea in 2019.