Emergency services were called to Victoria Avenue, near Welsh Bridge, at around 1.30am after receiving a call "reporting an incident classified as Water Rescue in Shrewsbury".
Shropshire Fire and Rescue Service said two fire appliances, including the Water Rescue Unit, were sent from Shrewsbury and Baschurch, along with police and ambulance crews.
The service said the person was "rescued from water prior to fire service arrival and now in care of ambulance service".
Sunday's rescue is the latest in a series of incidents this year involving people in the River Severn in the county town.
Two young men, Nathan Fleetwood and Toby Jones, both died in Shrewsbury's River Severn in the space of a matter of days in March and April, while another man, Dan Walker, has been left with life-changing injuries after being rescued from the water.
The tragedies have prompted a review of river safety with from families, friends, and campaigners calling for more work to be done to prevent future incidents – including the possible introduction of fences, river wardens, or more CCTV.
Shropshire Council's cabinet has been promised there will be no delay to findings from the review.