The incident happened around 3:15 a.m. near JFK Boulevard.
Police say initial reports came in that there was a possible jumper and then it was reported that a man was seen in the Schuylkill River holding onto a pillar.
Fire rescue crews and Marine Unit 1 were called out and a man was pulled from the river and brought to safety and placed in an ambulance.
He was taken to the hospital and is listed in stable condition.
It is not clear on how the man got into the water and police are investigating.