World War II Medal of Honor Recipient. He received the award from President Harry Truman on October 5, 1945 at the White House for his actions as a captain in the 2nd Battalion, 24th Marines at the Battle of Iwo Jima on February 21, 1945. He first enlisted in the US Marine Corps in Chicago, Illinois and served for four years. He then re-enlisted in February 1942 following the Japanese attack on Pearl Harbor and the following June, he was discharged in order to accept a commission in the US Marine Corps Reserve. In January 1944 he was sent with his unit, the 4th Marine Division, to the Pacific Theater where he saw action at the Battles of Kwajalein, Saipan, Tinian, and Iwo Jima. It was at Iwo Jima where, as the commander of G Company, 2nd Battalion, 24th Marines, he was awarded the Medal of Honor for his heroism. His other military decorations include the Silver Star, and the Purple Heart (with one star). Following the war, he continued to serve in the US Marine Corps Reserve, and was eventually promoted to the rank of lieutenant colonel and retired in that position in 1971. He was also the Superintendent of Ambulances in the Chicago Fire Department, retiring from that position in 1971. He died at the age of 84. His Medal of Honor citation reads: "For conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty as commanding officer of a rifle company attached to the 2nd Battalion 24th Marines|, 4th Marine Division, in action against enemy Japanese forces during the seizure of Iwo Jima, Volcano Islands, on 21 February 1945. Determined to break through the enemy's cross-island defenses, Capt. McCarthy acted on his own initiative when his company advance was held up by uninterrupted Japanese rifle, machine gun, and high-velocity 47mm. fire during the approach to Motoyama Airfield No. 2. Quickly organizing a demolitions and flamethrower team to accompany his picked rifle squad, he fearlessly led the way across 75 yards of fire-swept ground, charged a heavily fortified pillbox on the ridge of the front, and, personally hurling hand grenades into the emplacement as he directed the combined operations of his small assault group, completely destroyed the hostile installation. Spotting two Japanese soldiers attempting an escape from the shattered pillbox, he boldly stood upright in full view of the enemy, and dispatched both troops before advancing to a second emplacement under greatly intensified fire, and then blasted the strong fortifications with a well-planned demolitions attack. Subsequently entering the ruins, he found a Japanese taking aim at one of our men, and, with alert presence of mind, jumped the enemy, disarmed, and shot him with his own weapon. Then, intent on smashing through the narrow breach, he rallied the remainder of his company, and pressed a full attack with furious aggressiveness, until he had neutralized all resistance and captured the ridge. An inspiring leader and indomitable fighter, Capt. McCarthy consistently disregarded all personal danger during the fierce conflict, and, by his brilliant professional skill, daring tactics, and tenacious perseverance in the face of overwhelming odds, contributed materially to the success of his division's operations against this savagely defended outpost of the Japanese Empire. His cool decision and outstanding valor reflect the highest credit upon Capt. McCarthy, and enhance the finest traditions of the U.S. Naval Service."