2:43 PM PT -- A spokesperson for Weatherford College tells TMZ Sports an investigation into the incident is underway. The school says Woodward could face serious disciplinary action as a result of the attack ... and expulsion is on the table.
Weatherford head baseball coach Jeff Lightfoot released a statement ... saying, "We are shocked and disappointed at what happened in our game today."
"We do not condone this type of behavior. We have worked hard to build a program with the highest of standards. We are completely embarrassed by this incident, and we apologize to North Central Texas College and the fans of WC baseball."
"This type of behavior cannot be tolerated."
A college baseball pitcher looked more like an NFL linebacker on Wednesday ... absolutely pummeling his opponent during the guy's home run trot -- and the wild scene was all captured on video.
It went down just hours ago during the sixth inning of the North Central Texas College game against Weatherford in Weatherford, Texas ... when NCTC first baseman Josh Phillips hit a go-ahead homer off Owen Woodward.
It's unclear if Phillips said anything to Woodward as he rounded the bases -- but just after the slugger touched third, Woodward charged at him and leveled him to the grass.
You can see in the clip, the blow was brutal -- it flattened Phillips, causing his helmet to fly yards away from his body.
Phillips' teammates raced to the scene to pile onto Woodward -- and, somehow, Phillips was able to get up and touch home plate to give NCTC the lead.
Woodward was taken away from the area by his teammates ... and then he was, presumably, ejected from the contest.
A spokesperson for the Weatherford Campus Police tells TMZ Sports ... Woodward was not arrested, but they are investigating the incident.
As for Phillips, the spokesperson said he has "no life-threatening" injuries.
We've reached out to both schools for comment, but so far, no word back yet.