Inelastic neutron scattering measurements have been performed to investigate the spin waves of the quasi-one-dimensional antiferromagnetic ladder compound BaFe$_2$S$_3$, where a superconducting transition was observed under pressure [H. Takahashi {it et al.}, Nat. Mater. 14, 1008-1012 (2015); T. Yamauchi {it et al.}, Phys. Rev. Lett. 115, 246402 (2015)]. By fitting the spherically averaged experimental data collected on a powder sample to a Heisenberg Hamiltonian, we find that the one-dimensional antiferromagnetic ladder exhibits a strong nearest neighbor ferromagnetic exchange interaction ($SJ_R=-71pm4$ meV) along the rung direction, an antiferromagnetic $SJ_L=49pm3$ meV along the leg direction and a ferromagnetic $SJ_2=-15pm2$ meV along the diagonal direction. Our data demonstrate that the antiferromagnetic spin excitations are a common characteristic for the iron-based superconductors, while specific relative values for the exchange interactions do not appear to be unique for the parent states of the superconducting materials.