Takam was a late replacement for Kubrat Pulev, and Joshua had been tipped to overcome the 36-year-old in routine fashion.
The Cameroonian-French boxer showed heart and determination, however, to reach the 10th round of the contest before the referee stopped the bout, although Phil Edwards's call to end the fight was met by boos from the crowd.
Joshua suffered a cut to his nose during a clash of heads in the second round, before the 28-year-old cut Takam's eye in the fourth as both men traded blows.
It was the Brit dishing out the majority of the punishment, however, with Takam struggling to see as blood continued to harm his vision.
It did appear that Takam, who has already called for a rematch, would force the judges to reveal their scorecards as he battled into the latter stages, but the referee ended it in the 10th after Joshua hit Takam with a couple of heavy blows in quick succession.
Joshua has now won all 20 of his professional fights by knockout.