The Bundaberg-based helicopter was called to the Island around 11am this morning.
The 51 year old woman from London was stepping onto the beach when a wave pushed the ramp of a glass-bottom boat against her leg.
She suffered a suspected fractured ankle.
The patient was taken to Bundaberg Base Hospital in a stable condition.
Lady Elliot Island lies 46 nautical miles north-east of Bundaberg.