Lee James acted with lightning reflexes to pull the woman back from the brink and save her from plummeting more than 25ft onto the hard marble floor below.
The 29-year-old was on duty at Wolverhampton Crown Court when a blazing argument broke out between a couple in the downstairs waiting area.
The tearful and clearly distressed woman fled up the stairs of the court building and clambered over a first floor balcony rail, screaming that she was going to jump.
Mr James, who was manning the front entrance of the court at the time, followed the woman at high speed and grabbed his arms around her just as she was falling forwards.
The 29-year-old from Bilston, said: "She had been arguing quite loudly with a man, so I had already noticed her. I saw her heading towards the balconies so I quickly chased after her.
"She was really fast, but luckily I reached her just as she was climbing over the railing on the first floor. I grabbed her under the arms and pulled her back onto the floor. Then I radioed for assistance.
"It is a big drop from the balcony to the ground. She would definitely have broken something, or even worse."
Mr James, who has worked for G4S at the court as part of the Total Facilities Management team for the past 13 months, said he could not remember any similar incidents during his time on the job.
His manager Jean Doughty was so impressed with his actions in March she has nominated him for an employee of the month award. She said: "Lee acted on instinct and saved a member of the public.
"He was extremely professional, caring and it was an outstanding performance by a member of our team."