"Never in my life have I seen anything this big," Loescher told "Inside Edition." "I think never in my life will I see one this big again."
Typical lobsters are eaten when they are between 1 and 3 pounds.
A 44-pound lobster caught off the coast of Nova Scotia in 1977 holds the Guinness world record for the largest.
The University of Maine Lobster Institute said there is no exact way to determine a lobster's age, but some estimate a lobster's age is seven years for every pound.
Loescher debated donating the catch to an aquarium, according to UPI. However, since he caught it at night, the aquarium was closed.
He decided to give the crustacean back to the sea.
"After never seeing something that size before, I decided it was best for it to go back to the home he came from," Loescher said.
The Sanctuary Marine Bermuda later shared a video of the catch and its release.
"Hopefully people will see the hook in its toe and realize we caught it by accident and only pulled it on land to get the hook out and untangle it from our fishing line before letting it back go," Sanctuary Marine Bermuda wrote. "I think most people will see that as an act of kindness."
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