The 13-year-old saved a woman from drowning in the Steamer Basin in December last year.
His parents were so proud they bought him a brand new bike, and now Water Safety New Zealand wants to recognise his actions by holding a mayoral reception for him.
While the Kaikorai Valley College pupil conceded it was "pretty cool" to be acknowledged, he was humble and said he was "just doing what any good person would do".
He also said he could not have done it without the help of Dunedin Police Constables Charlotte Davies and Brent Mitchell, who will also be recognised by Water Safety New Zealand.
Jack was fishing off the wharf near the Port of Otago building in Wharf St with his twin brother David and his father Keith early on December 15 when a young woman got into difficulty in the basin.
He jumped in and held the woman's head above the water while his father and a friend called Dunedin police.
Water Safety New Zealand general manager Matt Claridge said their actions would be rewarded with WSNZ Merit Awards at a mayoral reception to be held in Dunedin on April 5.
He said their actions were commendable, particularly Jack's, because attempting to rescue people in difficulty in water could be dangerous.
"Every year, three or four people drown trying to save someone else."
In 2010, 86 people drowned in New Zealand, and Otago had the highest drowning toll per capita with seven deaths.
Mr Claridge said the 2010 Otago figures were an improvement on 2009, when 12 people drowned in the region.
"This young fellow has performed an act worthy of admiration and reward.
"We don't give awards out very often, but the acts of these people further the aims and objectives of Water Safety New Zealand.
"They saved a life from becoming another statistic."
