The six-month-old Aberdeen Angus was trapped on a farm in Lockerley, near Romsey, on Saturday, July 26.
Crews from Winchester and Redbridge were called to the farm just after 9am.
The rescue team pinpointed the calf, which was located about 15 metres into a pipe measuring 60 metres in length and half a metre in diameter.
They dug down to the pipe and employed a specialist disc cutter to get inside.
A local vet sedated the calf.
Specialist animal rescue gear was then used to help the calf to safety.
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Crews handed the calf back to the farmer at about 2pm.
A spokesperson for Hampshire and Isle of Wight Fire and Rescue Service said: “It has been a busy few days for our animal rescue teams across HIWFRS.
“Last night crews rescued a New Forest pony out of a deep pond, and over the weekend firefighters freed a calf which had got stuck in a culvert.
“The team were able to work out where the animal was, dig up the ground to reach the pipe and use a specialist disc cutter to access inside.
“A local vet was then able to sedate the calf before animal rescue equipment was used to lift the calf out of the pipe.”
