Friends and loved ones of Conor Spraggs, believed to be 23 and from Stevenage, paid tribute to the holidaymaker after his death on the popular island.
A JustGiving page has been set up to bring his body home and cover his funeral costs.
The page description read: “Conor was tragically killed on his last day of his holiday in Ibiza.
“We are trying to raise enough money to fly his body home so he can be back with his family and put to rest in his home town.
“Conor was a gentle soul, with a heart of gold who is going to be deeply missed by family and friends and anyone who knew him.”
More than £3,000 has been raised after the page was set up late on Sunday.
Those who donated to the fund remembered Mr Spraggs as a “top lad” who had “not a bad bone in his body”.
According to media reports, the victim died after a fight in the early hours of Sunday morning following an altercation with a group of males in the resort of San Antonio.
A police investigation has been launched.
A spokesman for the Foreign and Commonwealth Office said: “Our staff are providing assistance to the family of a British man who has died in Ibiza and are in touch with the local authorities, who are investigating.”
Mr Spraggs is the latest British holidaymaker to die this summer in the popular destination.
Last week, a 24-year-old was found floating in a marina in San Antonio
In July, the body of a 19-year-old man was pulled from a pool in Sant Josep in the early hours of the morning.