The 70-year-old star, who plays Han Solo's furry sidekick Chewbacca in the Star Wars saga, was taken to hospital after falling ill with pneumonia.
His wife Angie posted on the Star Wars reddit feed: "Thank you for all the well wishes, prayers, good vibes, and happy thoughts.
"Peter is indeed in the hospital with pneumonia.
"He will make a full recovery, and hope to be discharged within a few days. Doctors are incredibly happy with his improvements."
A message was also posted from Mayhew's Twitter account, reading: "Hey all, @Webmaster_Rick here.
"Peter is recovering well from his bout of pneumonia.
"He thanks you for the well wishes!!!"
The actor is set to reprise his role as loveable gun-toting pilot Chewbacca in Star Wars: The Force Awakens, alongside co-stars Harrison Ford, Carrie Fisher and Mark Hamill.
We're glad to hear that Peter - who stands tall at 7ft 3in - is expected to make a full recovery.
After all, it wouldn't be a Star Wars film without everyone's favourite Wookie!