French Vendee Globe yachtsman Kevin Escoffier was reported "safe and sound" after being rescued from the Atlantic off the Cape of Good Hope by rival skipper Jean Le Cam in his monohull Hubert on Tuesday.
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The skipper of PRB had to abandon his ship Monday afternoon and had been floating in a life raft.
"A huge relief. Kevin is well onboard Hubert safe and sound," Le Cam tweeted.
Vendee Globe organisers said they had received a message from Le Cam informing them of the successful rescue at around 0100 GMT.
"No one has yet been able to talk with the PRB skipper who just appeared smiling, bundled up in his survival suit alongside Jean Le Cam," the organisers said in an online statement.
Both sailors appeared well, they added, and said the news was a "huge relief for the whole team".
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Escoffier endured swells of five metres with water temperatures of 10 Celsius (50 Fahrenheit) before his rescue.
Le Cam and all competitors involved in the rescue operation will be able to return to the race after the recovery, with the hours taken deducted from their overall time in the round-the-world race.
The 40-year-old Escoffier was sailing a new style of "foiler" -- or "flying boat" -- which lift out of the water on a foil in high winds.
The foilers have featured strongly on the list of vessels having serious maintenance issues with Welsh skipper Alex Thomson already out of the race.
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World champion Lewis Hamilton has tested positive for coronavirus and will miss this weekend's Sakhir Grand Prix in Bahrain, Formula One's governing body FIA announced Tuesday.
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"In accordance with COVID-19 protocols and public health authority guidelines in Bahrain he (Hamilton) is now isolating," said an FIA statement.
"The procedures set out by the FIA and Formula 1 will ensure no wider impact on this weekend's event."
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Hamilton who on Sunday won the Bahrain Grand Prix, the first of back-to-back races in the Gulf state, has already secured a record-equalling seventh world championship this season.
"He woke up on Monday morning with mild symptoms and was informed at the same time that a contact prior to arrival in Bahrain had subsequently tested positive," a statement from Hamilton's Mercedes team said.
"Lewis therefore took a further test and returned a positive result. This has since been confirmed by a retest.
"Lewis is now isolating in accordance with COVID-19 protocols and public health authority guidelines in Bahrain.
"Apart from mild symptoms, he is otherwise fit and well, and the entire team sends him its very best wishes for a swift recovery."
The team added that Hamilton had been tested three times last week and returned a negative result each time as part of the sport's strict anti-virus protocols, the last of which was on Sunday afternoon at the Bahrain circuit.