Fifteen-month-old Louis, a Springer Spaniel, slipped his lead and then dropped below the main path on Wednesday into the Grey Mares Tail waterfall near Moffat, Dumfries and Galloway.
Two Moffat Mountain Rescue teams were dispatched at 1pm to try and locate the pup, which they could hear whining but was difficult to locate.
After about 45 minutes of searching, he was finally spotted on a small ledge having fallen over 300ft – with another 300ft below his resting place.
A rescuer was lowered down and managed to coax the dog into a rucksack after being calmed down.
The team then used a pulley system to bring both of them up to safety.
Louis was not injured and was able to walk off the hill to be reunited with his owners at about 4.30pm.