Michael Doyle, 26, who plays at right back for Morton, tweeted video footage showing himself assisting in the rescue attempt following a fire at the BH Mallorca Hotel.
Police in Spain said four Brits - two men and two women - were arrested on suspicion of causing the fire on Sunday night.
Doyle posted a picture of his face after running towards the smoke-filled blaze, which caused several floors of the Magaluf hotel to be evacuated.
Local reports estimated the damage caused to the hotel to be in excess of £100,000.
Doyle, an enterprising right-back, is well-liked by the Cappielow faithful for his hard work and bravery, not to mention his social media presence, where he is known to post Morton-themed memes after matchdays.
The defender, who started his career as a youth player at Celtic, later tweeted that his friend who was assisting in the recovery had collapsed due to smoke inhalation and got a tattoo reading ‘not all heroes wear capes’ as a thank you to Doyle for rescuing him.
While it was initially believed that the fire had been started due to a failed BBQ on a balcony, the Metro quoted a Civil Guard source as confirming the blaze started after a prank involving a lighter and an aerosol can.