The determined officers managed to rescue the man, calm him down and take him to shore, but not before all three were carried 250m downstream past Melling Bridge.
One colleague pointed out that neither officer was trained for swift water rescue and didn't have any specialist equipment with them, yet they had a steely resolve to save the man.
Both will receive silver medals from the Royal Humane Society of New Zealand for bravery.
The man, now 27, is currently serving a prison sentence. Since the rescue he has expressed his gratitude to police for saving him. He says the officers have given him a second chance to turn his life around.
Slight said receiving the award was "quite humbling".
"I happened to be the right person in the right place. The speed of the river made swimming difficult, however I'm pleased we made a difference that day."
Wilkins also said he was humbled to receive the "prestigious" medal.
"My thanks goes out to the other officers involved, those who assisted in the fleeing driver incident and helped pull us and the injured man from the river. We couldn't have done it without the support of our colleagues."
Wellington Police District Commander Superintendent Sam Hoyle commended the
pair for their actions.
"Sergeant Slight and Constable Wilkins showed tremendous courage that day. They focused on human life and put this man first. He was in need and police came to his aid in extremely testing circumstances. I am immensely proud of my staff. They are thoroughly deserving of their awards."
Royal Humane Society of New Zealand patron the Governor-General Dame Patsy Reddy will present the medals in June.