The champion athletes were struck head on by a car thought to be driving on the wrong side of a mountain road.
The two both suffered pelvic injuries, and Ellington is also thought to have broken a leg in two places.
The GB athletes will miss the rest of 2017, but Ellington said he feels “truly blessed” to be alive.
He posted a picture on Instagram of himself from his hospital bed in Hospital Universitario Nuestra Señora de la Candelaria.
He added: "I truly am blessed as I do not know how me or my training partner Nigel are still alive.
"Me and him are both strong characters and will be looking to bounce back from this horrific accident."
Ellington, 31, is a 100m and 200m specialist and a two-time Olympian who was part of the gold medal-winning 4x100m relay teams at the 2014 and 2016 European Championships.
Levine, 27, is a 400m runner who was born in Trinidad and raised in Northamptonshire.
He won a European outdoor relay gold in 2014 and an indoor relay gold in 2013.
British Athletics said their staff are liasing with doctors over treatment and are still waiting to establish the severity of the injuries and what impact they could have on their athletic careers