Black said Buss, 78, is recovering and is expected to be released soon. The team did not release any additional details of Buss' condition, when the dehydration occurred or the identity of the hospital.
Buss was hospitalized last December because of blood clots in his legs. At the time, Black said the condition was the result of "excessive travel" by Buss, who was involved in negotiations to end the NBA lockout.
Buss purchased the Lakers in 1979. Under his ownership, the Lakers have won 10 NBA championships.