Gordon Tranter sprang into action after the woman collapsed outside Alan Warwick Butchers, in Moor Centre, Brierley Hill on June 17.
The 66-year-old - who had moments earlier left the butcher - survived and is recovering following surgery after Mr Tranter rushed to her side to carry out chest compressions.
His efforts were rewarded at a surprise presentation at the shop, which was attended by around 30 well-wishers.
He was presented with the West Midlands Ambulance Chief's Commendation and the inaugural Best of Brierley Hill Award on Thursday afternoon.
The grandfather-of-two, 57, explains: "To be honest I think I did what anyone else would have done in a similar situation.
"It's all been a bit surreal and a nice surprise to be recognised in this way. It's been emotional as well.
"I've worked in Brierley Hill at various butchers' shops since 1979. I know a lot of people in the town and I'd never seen the lady before the incident. She came in and ordered two beef steaks which had been on offer on our Facebook page.
"As she left she keeled over outside. I don't know what came over me. Quite a few people gathered round her and her husband was beside himself, but no-one was doing anything.
"I've seen CPR done on TV on programmes like '24 Hours in A&E' and 'Casualty' so I thought any CPR (cardiopulmonary resuscitation) was better than none. A lady, whom I didn't know came to help me and phoned 999 while I started the compressions.
"Someone was telling me to try the kiss of life, but that's not being done at the moment due to the Covid pandemic. I did some compressions and the lady did some. We lost the poorly lady a few times, but the emergency operator told us to keep trying.
"They told us to turn her on her side to keep her airway open. Then we were told to roll her on her back and keep pressing due to her condition.
"We could hear the ambulance coming. The crew took over when they arrived and used their defibrillator before taking the lady to hospital. The family have phoned us up at the shop to thank us and to say that she is recovering which is good news."
Shop manager Paul Hughes said: "Gordon was absolutely brilliant in the crisis. It was fantastic that he was able to save a woman's life."
Mr Tranter was nominated by Councillor Adam Davies, of Brierley Hill ward, who said: "Gordon who was the hero of the hour who had stepped up and delivered manual CPR, so I went to thank him a day or so after the event.
"After chatting with Gordon I was shocked to find out that despite acting so instinctively and delivering lifesaving manual CPR for approx six minutes he had never received any training of any kind. I would like to thank everyone who helped in some way."
Councillor Davies added that plans were underway for a community CPR training evening later this month. Details will be announced soon.