The famous rocker – now aged 74 – 'turned blue' at Diane Chess' New York flat in the 1970's.
Both Dunaway and her then husband, Peter Wolf, made sure that Jagger was rushed to hospital.
The episode is detailed in a new book about the iconic American music publication Rolling Stone.
In "Sticky Fingers: The Life And Times Of Jann Wenner And Rolling Stone Magazine" Diane Chess, the wife of the influential rock publicist Marshall Chess, recalls the traumatic afternoon when she and her husband battled to save Jagger's life in their New York apartment.
'I was upstairs in the bedroom when I heard this slapping and Marshall yelling, "Mick! Mick!" enough times for me to go see what was going on,' she wrote. 'He was blue, lips purple.'
Her husband then had to resort to giving Jagger 'mouth to mouth' to try to revive him.
But his life was effectively saved when Dunaway, Wolf and Atlantic Records' then president, Ahmet Ertegun, intervened and ensured Jagger was rushed to hospital.
The incident was kept out of the press at the time but without the intervention Jagger would not have gone on to have his amazing life and career.
After an initial fall-out with Rolling Stone publisher Jann Wenner the two men eventually became close with Jagger appearing on the magazines's cover 31 times helping to cement his superstar status.
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