The Nobel Prize award ceremony in Stockholm, 10 December 2023.
© Nobel Prize Outreach. Photo: Nanaka Adachi
The Nobel Prize
How it started
When the inventor, entrepreneur and businessman Alfred Nobel died, his will stated that his fortune was to be used to reward “those who, during the preceding year, shall have conferred the greatest benefit to humankind.” Nobel’s prize would reward outstanding efforts in the fields that he was most involved in during his lifetime: physics, chemistry, physiology or medicine, literature and peace.
After his death, a long process began to realise his vision and the first Nobel Prizes were awarded in 1901. In 1969, a new prize was established – the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. Its addition was an exception, to celebrate the tercentenary of Sweden’s central bank.
In October every year the new Nobel Prizes and laureates are announced.
Quick facts
- Instituted by Alfred Nobel
- First awarded in 1901
- 6 prize categories
- Announced in October every year
- Presented at award ceremonies on 10 December
Prize categories
1901–2025:119 prizes awarded to 230 laureates.
Illustration of laser, Physics Prize 2018.
© Johan Jarnestad/The Royal Swedish Academy of Sciences
1901–2025: 117 prizes awarded to 200 laureates.
Carolyn Bertozzi in the laboratory.
Image Credit: L.A. Cicero
1901–2025: 116 prizes awarded to 232 laureates.
Preparing syringe for insulin shot.
Photo: MarsBars via Getty Images
1901–2025: 118 prizes awarded to 122 laureates.
Books by Abdulrazak Gurnah.
1901–2025: 106 prizes awarded to 143 laureates.
ICAN works for the abolishment of nuclear weapons.
Illustration: iStock
1901–2025: 57 prizes awarded to 99 laureates.
Richard Thaler was awarded the 2017 prize in economic sciences.
Photo: iStock
Explore prizes and laureates
Questions and answers
Do you want to know more about the Nobel Prize and the Nobel Prize laureates? Find answers to the most commonly asked questions in the FAQ.
© Nobel Prize Outreach. Photo: Bernhard Ludewig
What do the Nobel Prize laureates receive?
According to the statutes of the Nobel Foundation, each laureate shall be presented with a gold medal. The front of the Nobel Prize medals depict Alfred Nobel. The image on the reverse varies according to the institution awarding the prize. Read more about the medals.
Tu Youyou showing her Nobel Prize medal, 11 December 2015.
© Nobel Media. Photo: Alexander Mahmoud.
Each Nobel Prize diploma is a unique work of art where the design is decided by the prize-awarding bodies. The literature diploma is written on parchment, i.e. specially treated leather, using largely the same technique as those of medieval book illustrators. The diplomas given to the other laureates are produced on specially ordered handmade paper.
2024 chemistry laureate John Jumper with his Nobel Prize diploma.
© Nobel Prize Outreach. Photo: Nanaka Adachi
The current amount is at SEK 11 million per full Nobel Prize. A Nobel Prize can be awarded to up to three laureates who share the prize money. Find out more about the prize amounts throughout history.
Flower arrangements and the bust of Alfred Nobel at the 2024 award ceremony.
© Nobel Prize Outreach. Photo: Clément Morin