Firefighters were called to the scene in Duncan Crescent at 5:38 am after a member of the public heard a fire alarm and smelled smoke.
Crews from Peterhead and Maud rescued a man from the property who was suffering from severe smoke inhalation.
Firefighters gave him oxygen therapy before handing him over to paramedics.
Station manager Colin Westwood said the fire once again highlighted the dangers associated with cooking late at night.
He said: “Most kitchen fires happen when people are not concentrating on what they are doing or they leave cooking unattended.”
SM Westwood also stated that there were ways to prevent fires in the kitchen.
He said: “Don’t leave pans unattended and take them off the heat if you have to leave the room. Fire starts when your attention stops. When you have finished cooking, make sure the cooker or oven is turned off.”