Cheers broke out as rescue workers emerged from the well with the stunned boy, named Prince, wrapped in a white sheet, the Press Trust of India reported.
The boy, whose birthday was Saturday, fell while playing with friends Friday evening, PTI said.
Army personnel and nearly two dozen villagers dug a parallel tunnel to reach him.
Rescuers lowered food and water to Prince and supplied him with oxygen. They monitored his condition using a closed-circuit TV system that also let the boy talk to people on the surface.
Local residents and people from across India joined Prince's parents in a round-the-clock prayer vigil for his safe rescue. Even Prime Minister Manmohan Singh and Congress President Sonia Gandhi expressed hope he would be rescued safely.
Ron Burgundy interviews Peyton Manning on SportsCenter
Toddler uninjured after being knocked over by Obama family dog