The Nobel Peace Prize (Swedish and Norwegian: Nobels fredspris) is the name of one of five Nobel Prizes bequeathed by the Swedish industrialist and inventor Alfred Nobel. According to Nobel's will, the Peace Prize should be awarded "to the person who shall have done the most or the best work for fraternity between the nations, for the abolition or reduction of standing armies and for the holding and promotion of peace congresses."

The Peace Prize is awarded annually in Oslo, the capital of Norway (Alfred Nobel's will stated that the Nobel Peace Prize should be awarded in that city). The actual prize always is presented on the 10th of December, the anniversary of the death of Nobel. The Norwegian king is in attendance. "In Oslo, the Chairman of the Norwegian Nobel Committee presents the Nobel Peace Prize in the presence of the King of Norway. Under the eyes of a watching world, the Nobel Laureate receives three things: a diploma, a medal and a document confirming the prize amount." The Nobel Peace Prize Ceremony is held at the Oslo City Hall, followed the next day by the Nobel Peace Prize Concert, which is broadcast to more than 450 million households in over 150 countries around the world. The concert has received worldwide fame and the participation of top celebrity hosts and performers. The selection of Nobel Peace Prize winners sometimes causes controversy, as the list of winners includes people who formerly used violent methods of problem-solving, but then later made exceptional concessions to non-violence in the attempt to achieve peace. This is the only Nobel Prize not given out in Stockholm, Sweden.