Emergency crews were called out for a "wilderness rescue" along the cliffs adjacent to the Pennybacker Bridge over the Colorado River on Lake Austin Thursday.
Austin Fire Chief Travis Walden told KXAN-TV a female, in her late teens, was walking her dog, but when the dog slipped and went over the cliff she went after the dog and went over the cliff herself.
After she landed, she slid down a 45-degree slope and ended up between some trees.
A technical rescue team was able to get her out by moving her to the water's edge, she was then taken by boat to an awaiting helicopter and airlifted to a nearby hospital.
Officials said she suffered an ankle injury and had some back pain, but she was considered in good condition considering the "significant fall."
Austin Police said they found the dog and will return it to the woman when she leaves the hospital.