A man-overboard rescue and retrieval system includes a net assembly having a pair of laterally spaced apart side ropes and a plurality of net portions, each net portion being constructed of a material that floats, extends laterally between the side ropes, and is spaced apart longitudinally from an adjacent net portion. The system includes a deployment capsule defining an interior space configured to selectively receive the net assembly therein. A launching device includes a framework configured to receive the deployment member. A first compressed air canister is in fluid communication with the launching device and the deployment member and configured to apply force to the deployment member when actuated that is sufficient to propel the deployment member from the launching device. Each net portion includes a net spreader connected to a second compressed air canister for selective inflation thereof so as to spread apart the side ropes and net portions.