This medal is awarded to any officer or enlisted man of the Armed Forces of the United States who shall have distinguished himself in actual combat in support of operations by "heroism or extraordinary achievement while participating in an aerial flight, subsequent to November 11, 1918." The decoration may also be given for an act performed prior to November 11, 1918, when the individual has been recommended for, but has not received the Medal of Honor, Distinguished Service Cross, Navy Cross, or Distinguished Service Medal.

The Air Medal is awarded to any person who, while serving in any capacity in or with the armed forces of the US shall have distinguished himself by meritorious achievement while participating in aerial flight.

The Bronze Oak Leaf Cluster represents second and subsequent entitlements of awards.