According to Air Force Instruction 36–2803, The Office of the Secretary of the Air Force, Personnel Council approves or disapproves recommendations for Airman's Medals requiring Secretary of the Air Force final approval and determines upon approval, entitlement to 10 percent increase in retirement pay for the Airman's Medal when awarded to enlisted members for extraordinary heroism.

The medal was designed and sculpted by Thomas Hudson Jones of the Army Institute of Heraldry.

On the obverse of the circular medal is the figure of the Greek god Hermes, son of Zeus, resting on one knee.

He has just released from his open hands an American Bald Eagle, shown rising into flight.

The reverse of the medal, has a raised outer edge and bears the inscription: “For Valor” above a space for the recipient's name which is within a stylized laurel wreath open at the top and tied at the bottom.