Emergency services needed two hours to cut through the metal ring, described as a type of "armour plating", into which the man had placed his penis and testicles.
The firemen on hand needed two changes of battery and a second rotating blade for their buzz saw to free the man, local daily Diario de Mallorca reported on Friday.
There were "plenty of sparks" during the operation to remove the sex toy which measured 15cm in diameter.
The two-hour procedure was described as "very complex" because the man became "more swollen" with time.
He was also said to have complained a lot.
To finish the operation it was necessary to administer a total anaesthetic.
The fire crew received their unusual call-out at 10pm on Wednesday after medics at Ibiza's Can Misses hospital discovered they didn't have the tools to do the job.
It is not known how the man, a 51-yr-old German, got to the hospital.
This is not the first time that Majorcan fire-fighters have been called upon to free people from sex toys but "never one as big as this".
After an overnight stay in the Urology department of the hospital the man is reported to have felt fine.
He was discharged late on Thursday morning.