Rourke, wearing red trunks with a Russian flag, unleashed a barrage of blows against 29-year-old Elliot Seymour, an American professional boxer, and the bout was halted.
It had been set to go five rounds of two and a half minutes each but in the end lasted about four minutes.
Prior to the match, wearing only a cowboy hat and turquoise boxer shorts, the actor had showed off his tanned, tattooed and muscly physique to a cheering crowd as he weighed in at 81.3 kilos (179.2 pounds), the same as his rival.
"I'm very happy to be back to the boxing ring. Thank God for letting me do this," Rourke told AFP ahead of the fight.
The organisers said the boxers were receiving "large amounts of money" in fees, declining to give details but saying "everyone is happy".
Rourke was an amateur boxer before his Hollywood career took off and he became a sex symbol star in films such as "9 1/2 Weeks".
He returned to boxing as a professional for eight matches in the 1990s, causing damage to his face that necessitated surgery and changed his appearance.
In 2008 he starred in "The Wrestler" about a washed-up professional wrestler making a comeback, winning a Golden Globe for best actor.