The U.S. Coast Guard (USCG) released the vessel from search-and-rescue efforts but is continuing the search operation.
The man went overboard around 35 miles south of Florida Keys, officials revealed.
According to CG spokesman John Lally, the Coast Guard is using fixed-wing aircraft, HC-144 Ocean Sentry and Coast Guard cutter. A Coast Guard helicopter used earlier on Friday returned to base.
Lally added he did not know how long the search would continue, due to the swells, currents and temperatures that had to be considered.
At the time of accident the ship was sailing on a 3-day, round-trip Bahamas cruise from Miami, and is scheduled to visit Nassau, New Providence Island, Bahamas on Saturday, December 15.
For other Carnival Victory accidents and incidents see at the ship's CruiseMinus page.