West Vancouver Fire Chief Jim Cook said 15 firefighters spent nearly two hours rescuing the boy, who fell about 13 metres down a steep and rocky escarpment, shortly after 11 a.m.
"We had a long stretch of area to bring him up," Cook said. "We used some rigging lines and we had to stage crews down the hill so we could bring him up bit by bit."
The boy was conscious when he was rescued, and his injuries were not considered life threatening.
He was transported in a stretcher to a nearby air ambulance and flown to Children's Hospital in Vancouver.
The teenager is a Grade 8 student at Rockridge Secondary and was on a hike with his physical education class when he fell.
West Vancouver School District assistant superintendent Dave Eberwein said the teachers responded quickly, calling 911 and informing the teen's parents right away.
Eberwein said the district will review the incident to see if anything could have been done to prevent it.
The trail leading to Cypress Falls is located just northeast of Caulfeild on Vancouver's North Shore.