According to fire control, the 10-year-old animal has become trapped within railings on Gaggerhill Lane.
Fire crews from Freshwater, Newport and Ryde are currently on scene and are using specialist equipment to help free the horse.
UPDATE @ 13:30 – Firefighters have successfully freed the sedated animal using cutting gear.
It is said that the horse was fully trapped within steel railings.
The Isle of Wight Fire and Rescue Service are now standing down from the incident, leaving the animal in the care of a vet and its owners.