The fire broke out in the two-storey, five-unit building at 16 Redwood Ave., near the corner of Gerrard Street East and Greenwood Avenue, and just after 7 a.m.
More than 40 firefighters were called to the scene. They pulled the man, who is in his 60s, from a second-storey bedroom. He was suffering from smoke inhalation.
Firefighters say five people were at home at the time.
“The flames were pouring out of the top window,” neighbour Lesley Wichstrom told CBC News.
Fire crews say smoke alarms inside the building were sounding when they arrived.
There is no word yet on what may have caused the fire.