The Medal for Bravery was created by Emperor Joseph II on 19 July 1789 in order to recognize courage in combat by personnel below commissioned rank (courageous acts performed by commissioned officers could after 1757 be rewarded by appointment to the Military Order of Maria Theresa).

A fourth class, the Bronze Medal for Bravery, was introduced on 14 February 1915 during World War I.

Medals awarded during World War I were minted with the portrait of Emperor Franz Josef on the obverse until some months after his death.

Commissioned officers wore the same medals as the ranks, plus the letter "K" (in gold or silver, depending on class of the award) superimposed on the triangular ribbon.

By 14 April 1939, gold, large silver, small silver and bronze awards were issued to non-commissioned officers and men and, on 12 September 1942, the gold medal for bravery award (Magyar: Tiszti Arany Vitézségi Érem) for officers was added.