Joe Perry Released From Hospital After Medical Emergency at MSG

Joe Perry is back in the saddle again ... because we've learned the famed Aerosmith guitarist is finally home after being hospitalized following a scary scene at a concert.

Sources close to Joe tell TMZ ... Perry was released from the hospital Thursday and is now home resting.

We broke the story ... Joe collapsed backstage last weekend after a guest gig with Billy Joel at Madison Square Garden, and paramedics wheeled Joe out on a stretcher.

We're told doctors ran a series of tests and determined the 68-year-old was suffering from a combo of allergies and fatigue. We're told Joe's had breathing issues his whole life.

It's great news for Aerosmith fans ... with Joe on the mend, the band's upcoming Vegas residency is still a go.