The incident happened Saturday in the Creek Park area, when the 17-year-old lost his footing at the top of a 50-foot waterfall and plunged to the bottom.
The boy landed in a pool about three feet deep and somehow did not suffer any head injuries. However, he did suffer a serious compound fracture and had to be rescued by rope.
Naramata fire officials say the victim was with two other boys and is believed to be a visitor to the Naramata area.
The Penticton Fire Department assisted with the rescue.