The talk show host had been with his film crew on the main strip of the Majorca party town when a bouncer at a nearby club pulled out a can of the stinging spray and aimed it into the busy crowd.
Jezza, who had been shooting footage for an upcoming evening series due to air sometime next year, had to leave the area immediately with his crew but luckily didn't need to seek medical treatment after getting hit by the spray.
According to the Sun, doorman 'Leon' had deliberately targeted Jeremy because he was worried whatever the crew were filming would make Magaluf look bad.
"He wasn't showing the good side of Magaluf. I don't like that sort of publicity - it's definitely not the way to promote a place," the bouncer said.
Well neither's pepper-spraying someone, to be fair.
But an* ITV* spokesman said the story has been slightly exaggerated - and the film crew will have the footage to prove it.
"The production crew, including Jeremy, were part of a large crowd on the main strip, which was affected by what may have been pepper spray, going over their heads," the rep said.
"No prior incident involving anyone from the crew had occurred and it was not clear where the spray came from."
The spokesman added that the incident was "unprovoked and undeserved" but there has been no talk of Jeremy or any of his crew pressing charges against the bouncer.
In a weird twist, the person who broke the story was Gogglebox's Scarlett Moffat, who posted on Facebook requests for revellers who had seen what happened to get in touch.
One, Scott Young, posted: "Ive got one [picture] of him gettin pepper sprayed. Funny as f**k."