"I would like to thank my Aunt Rena as well as the doctors and nurses who are working with us around the clock," he said in a statement. "I would especially like to thank the two men who saved my son's life, Eugene Stachurski and Ben Crews. They are true heroes and I am deeply grateful to them."
On Monday, five-year-old Usher Raymond V was retrieving a toy when his arm became stuck. When a maid and supervising adult – thought to be Rena – were unable to free him, two male employees from inside the house jumped into the pool and managed to get him loose.
The little boy was then given CPR and rushed to hospital. Thankfully, he is making a good recovery.
"I am blessed and fortunate to say that my son Usher V is doing well and is recovering," his father confirmed. "I am overwhelmed by the outpouring of prayers, love and support for my family’s wellbeing."
Usher was not at home at the time of the incident, but as soon as he was notified, rushed back to his Atlanta property.
His ex-wife Tameka Foster has also thanked her fans for their kind wishes, and said that her son is doing "much better" since Monday’s accident.
"I'm so happy to say that my son is doing much better," she wrote on Twitter. "Talking & asking for food. Thank you for ur well wishes & prayers."
On Tuesday, Tameka – who divorced the singer in November 2009 - reportedly requested an emergency hearing to regain primary custody of Usher V and his younger brother Naviyd Ely, four. In August last year, Usher was granted custody of their two children, while she was given limited custodial rights.
"Now that it's sunk in, she is livid," a source close to Tameka told People. "Usher has custody and won't let Tameka have the kids, even when he is out of town.
"She feels like the kids are being raised by his family or by nannies, when they should be with their mother."
Only last July, the family suffered a terrible tragedy when Tameka's 11-year-old son Kile Glover died after being struck by a jet ski.