A shocked colleague said: "It's a tragedy".
Compatriot Victor Barrio suffered the same fate after being gored by a bull last July during a live televised event. 'We just do not know how it could have happened'.
Immediately after his injury, he realized the seriousness of his condition: "Hurry to get me to the hospital, I die" was his last words.
Photos of the scene showed Fandino stabbed in the right side by the bull's horn and thrown in the air.
A bullfighter has been fatally gored after tripping over his cloak while in the ring.
Fandino, who came from Orduna in Bizkaia, was stabbed in his lung in front of a horrified crowd.
The Spaniard, from the Basque region, leaves behind a wife and daughter, the Daily Mail reports.
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In France alone it is estimated that 1,000 bulls are killed in fights every year.
A prominent Spanish bullfighter has died after being gored by a bull during a bullfight in France.
Ivan Fandino from Orduana, near Bilbao, became a bullfighter in 2005 Torreo and has since become very popular.
Barrio, who was 29, was killed in the bullring at Teruel in the north of Spain.
The royal family paid homage to "a great bullfighting figure" on their official Twitter page while Prime Minister Mariano Rajoy mourned the "sad news". He was later photographed being carried away from the arena by fellow matadors.
Fandino had been invited to take part in the 18th celebration of the San Isidro Fair.
Animal welfare group The Humane Society said: 'Bloodsports like this should be consigned to history books, no one, human nor animal, should lose their life for entertainment'.