The fire brigade and a vet were called to help rescue the animal, which had fallen into water in Hampton Wood near Ellesmere.
The incident happened at about 5pm yesterday.
Shropshire Fire & Rescue Service sent four appliances from Ellesmere, Oswestry, Wellington and Whitchurch to aid the incident. A vet was also on scene.
The fire service reported the horse was pronounced dead by the vet prior to crews arrival and no further action was required by attending firefighters.