Des Harborne made three attempts to crawl out on thin ice to Sharn Siathaga after Mr Siathaga tried to walk across a 50m pond at Molyneux Orchard and fell in the icy water.
The air temperature was -5degC at the time and water was cold enough to quickly cause hypothermia.
Mr Harborne tried to crawl out on the ice dragging a water hose tied to a piece of timber as a rope.
The ice started cracking under his weight and he was unable to get close enough to Mr Siathaga.
Eventually using a wooden pallet to spread his weight Mr Harborne, on his third attempt, using a different route each time, was able to reach Mr Siathaga, who by then had lost all the feeling in his legs and was hardly able to keep his head above water.
He managed to pull him out and on to the pallet.
The pair were then pulled back across the ice by the Cromwell Fire Serve personnel and other workers who had gathered to help.
In presenting Mr Harborne with his citation and medal Mayor Malcolm Macpherson said Mr Harborne had prevented what would certainly have been a tragedy.
Mr Harborne was very humbled by the award and he said it was a team effort and thanked Molyneux Management general manager Tim Jones and the Cromwell Fire service for all their help and support.
