Four fire engines were deployed by the Isle of Wight Fire and Rescue Service.
A call from a worried neighbour was received at 12.06am.
A spokeswoman for the fire service said it was believed that the fire had been caused by a microwave oven.
The police and an ambulance also attended the scene.
The man was rescued from the house which was full of smoke, by firefighters wearing breathing apparatus.
He was then taken to St Mary's Hospital by ambulance.
Island Roads closed Brading High Street at the request of the police.
The Isle of Wight Fire and Rescue Service had dealt with the fire by just after 12.30am, but remained on site to ventilate the property.
Friday 9:06 - Island Roads reopened Brading High Street at around 1am.
* Friday 10.08 A spokeswoman from St Mary's Hospital confirmed that a person had been seen and discharged.