According to the statement, the 62-year-old prince is being closely monitored by a medical team at Princess Grace Hospital, named for his mother. His doctors said that they have no concerns in regards to his health.
The statement also said thatwill continue to lead Monaco from his home office, and the palace plans to provide regular updates on his health as they arise.
"His Serene Highness urges the people of Monaco to respect shelter-in-place orders and to abide with social-distancing rules," the statement said. "Respecting these measures is the only way to contain the spread of coronavirus."
Prince Albert appears to be the first head of state who has publicly said he contracted the virus. The announcement comes just two days after he introduced new lockdown guidelines to prevent its spread.
Albert II, the son of Prince Rainier III and Princess Grace, formerly Grace Kelly, has reigned over Monaco since 2005. He and his wife, the former Charlene Wittstock, have 5-year-old twin children, Prince Jacques and Princess Gabriella.
As of Thursday, COVID-19 has infected more than 227,000 people worldwide, killing over 9,300. Italy, Spain, Germany and France have been the hardest-hit countries in Europe.