At 1.35am Guernsey Coastguard received a mayday call from the vessel, which was on rocks around Tautenay Beacon, off the north-east coast.
The Spirit of Guernsey was sent out.
The fishing boat refloated without assistance and its skipper confirmed that there were no leaks or damage to propulsion or steering.
She returned to St Peter Port under her own power with the lifeboat escorting her as a precaution.
At 2.45am both vessels safely arrived in St Peter Port.