West Midlands Ambulance Service was called to a flat used as part of sheltered accommodation in Yeomanry Close at around 2pm.
Two ambulances and a paramedic attended the scene along with two fire engines from Leamington and one from Kenilworth.
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A West Midlands Ambulance Service spokesman said: “Ambulance crews treated a woman in her 60s for serious smoke inhalation.
“The patient was given oxygen therapy and her condition stabilised before she was conveyed to the University Hospital Coventry and Warwickshire for further assessment and treatment.
“The hospital was alerted to the serious condition of the patient.”
On Tuesday (Yesterday) two fire crews from Leamington attended a blaze at a semi-detached house in Campriano Drive, Warwick.
The ground floor was heavily smoke logged.