John Aldridge, a crewmember of the fishing vessel Anna Mary, went overboard sometime Tuesday night, WNBC-TV, New York, reported.
The Coast Guard began a rescue operation Wednesday morning after being alerted to the incident by Aldridge's coworkers. The search for Aldridge included two Coast Guard vessels, as well aircraft and two rescue helicopters.
Aldridge was found about 43 miles south of Montauk, N.Y., Wednesday afternoon after he had been in the water for about 12 hours, the U.S. Coast Guard said in a release.
The lobsterman was taken to a hospital where he was evaluated and treated for dehydration, exposure and hypothermia.
"The search and rescue coordination between the Coast Guard, its partner agencies and fishermen was exceptional. The fishing crews allowed us to search a much greater area," said Senior Chief Petty Officer Jason Walter, the officer in charge of Station Montauk. "To find this man in the water after this much time is amazing."