The man had fallen onto rocks near a waterfall in the Maleny area, after launching off a rope swing which was suspended over water, at the base of the falls.
It is believed he was unconscious when he was dragged from the water by a female companion.
He was in a difficult-to-access location, at the bottom of a steep drop, when QFES and QAS officers arrived on the scene.
The RACQ LifeFlight Rescue helicopter winched an RACQ LifeFlight critical care doctor and QAS paramedic down to the site, where the patient was loaded onto the helicopter stretcher.
The helicopter landed in a nearby clearing, while the delicate operation was underway.
The RACQ LifeFlight aeromedical crew, QFES and QAS officers worked together, in challenging conditions, to carry the man back up the steep falls, to a position where it was safe for the helicopter crew to perform a winch rescue.
With the injured man secured on the stretcher, he and the RACQ LifeFlight critical care doctor were winched up first, followed by the crew paramedic.
The patient, aged in his mid-twenties, was flown to the Sunshine Coast University Hospital.