Keen mountain biker Keiran McKandie, 16, from Elgin, died after the crash with a car on the B9010 Forres to Kellas Road in March last year.
His parents Sandra and Gordon McKandie, along with family and friends, raised money to donate 10 defibrillators.
One has now helped save a 52-year-old man after suffering cardiac arrest.
The life-saving incident happened near St Fergus on 1 April - a year after the funeral service for Keiran.
The daughter of the man whose life was saved - who wishes to remain anonymous - said: "The McKandie family has been incredibly brave and should be proud of themselves for starting a charity which has saved my dad's life.
"Thanks to them we will be able to enjoy more time together as a family."
The man was found slumped in his car in a lay-by.
Police were first on the scene and the defibrillator used.
The man was then transferred to hospital in Aberdeen and has since been allowed home where he is recovering.
Mrs McKandie said: "As a result of these defibrillators being available in emergency response vehicles, a gentleman's life has been saved, which has allowed a family not to experience the heartbreak, sorrow and suffering that we endure on a daily basis.
"This is due to one person alone and that is Keiran.
"If Keiran did not experience such a cruel and unjustified accident these defibrillators would not be available for police to use in these emergency situations.
"We genuinely wish the gentleman involved a safe and speedy recovery and hope that he continues to fulfil his life.
"We will continue to fundraise and raise awareness in Keiran's name to ensure that all emergency response vehicles are equipped with this life-saving equipment, and continue Keiran's legacy."
Dep Ch Con Rose Fitzpatrick said: "It is extremely pleasing to hear that one of the defibrillators donated by Gordon and Sandra McKandie has been used to help save this man's life.
"I hope that they can take some comfort from knowing that their very kind and generous donation has undoubtedly played a significant part in the man's chances of survival and I hope he will recover well."
The defibrillators were distributed between Elgin, Inverurie, Mintlaw, Stonehaven and Aberdeen.
A defibrillator donated to police by relatives of a teenage cyclist killed in a crash in Moray has been used to help save a man's life.