Rescue teams from Taupo and Turangi, accompanied by a search dog from Taupo, were sent into the park on Sunday morning.
The man was found safe and well at 2.30pm and was escorted back to Taupo, where he stayed the night at a police officer's home.
Meanwhile, the Taupo and Turangi search teams assisted police and the Greenlea Rescue Helicopter to rescue a 28-year-old woman from Red Crater on Mt Tongariro.
The American tourist was descending Red Crater at about 3pm when she slipped and fell, fracturing her ankle.
Rescuers were flown to South Crater but turbulence stopped the helicopter from landing next to the woman.
She was carried on a stretcher to South Crater before being flown to Mangatepopo for treatment.
