The 47-year-old, who is one of the biggest names in the bullfighting circuit was tossed into the air and then pushed into the ground as the bull’s horn pierced his lower buttock.
He was felled by the fifth bull of the corrida, a 32-kilo bull named Declamador, bred by Olga Jiménez.
Ponce was carried from the ring and treated at the infirmary before being transferred to hospital to have emergency surgery.
He suffered a 12cm wound in his lower gluteus and another of 5 cm and also damaged ligaments on his left knee as he was tossed to the ground.
His doctor, Cristobal Zaragoza said the bullfighter was recovering well at the Hospital Casa de la Salud in Valencia where he would undergo a second operation on the knee.