The 64-year-old Black Sabbath rocker tried to make a breakfast sandwich at his Beverly Hills, California, mansion on Wednesday and nearly burned down the property for a second time this year.
Supposedly Ozzy was too dazed to pay full attention while cooking.
'Ozzy has just got back from four months abroad on tour, and was still a little jet-lagged and disorientated,' a source told British newspaper The Mirror.
'Shortly before bedtime, he went to make himself a little snack. Unfortunately, when frying the bacon, he managed to set light to the pan and triggered the smoke alarm.'
His wife Sharon was in the UK filming The X Factor at the time and she took to Twitter to lament over the accident immediately after it happened: 'I'm in London, @OfficialOzzy is in LA making a bacon sandwich last night and the fire brigade ended up at our house!!'
But luckily emergency authorities were on the scene quickly to assist.
'Because the Osbournes' alarm system is so advanced, and Ozzy has form for this kind of thing, an alert was immediately sent to the LAFD ' and officers were dispatched,' the source detailed.
'Ozzy was mortified when he realised the fuss he'd caused and apologised profusely to the fire crew. He has promised to be more careful, and less gung ho, in future.'
Ozzy and Sharon suffered another fire scare in January.
After the couple fell asleep before extinguishing a candle which exploded in its glass vase and sparked a small fire in their living room, Ozzy singed his hair and injured his hand while trying to put out the blaze.
Authorities arrived to rescue the couple in time and Sharon, 60, told TMZ shortly after the accident she would be banning candles from the home.