The 62-year-old rocker and his wife Sharon dug deep after falling in love with the little Yorkshire terrier at a charity auction held in Beverly Hills on Saturday.
The dog-loving matriarch spotted the eight-week-old pooch at the start of the night, and told People magazine, 'That puppy is divine'.
The bidding started at $5,000, but Ozzy soon saw off the competition and made a final offer of $10,000 for the dog, which as if by fate, was also called Ozzy.
Organised by Sharon's The Talk co-host, Holly Robinson Peete, the 13th Annual Design Care event was held to raise money for the HollyRod Foundation, which helps families coping with autism and Parkinson's disease.