Nobel Prize 2025: Check Dates, Schedule, Prize Money, Selection Process

The Nobel Prizes were created by Alfred Nobel, a 19th-century businessman and chemist from Sweden. Photo Courtesy: AFP

Ever since the Nobel Prize was instituted in 1901, it has been considered one of the most prestigious awards in the world for the betterment of humankind.

The award came to life because of Alfred Nobel, who was a Swedish chemist and businessman, popularly known for inventing dynamite. Over the years, the profit he made led him to create the prize.

Many famous people around the world have won the prize including Rabindranath Tagore, who was the first Indian and Asian to win the prize for Literature.

As the Nobel Prize 2025 gets underway, here's all you need to know about it for this year

Dates
The announcements will kick off Monday, October 6, with the medicine prize being announced by a panel at the Karolinska Institute in Stockholm.

They will continue with the physics prize on Tuesday, October 7, followed by Chemistry on Wednesday, October 8, and Literature on Thursday, October 9.

The Nobel Peace Prize will be announced on Friday, October 10, and the Nobel Memorial Prize in Economic Sciences on Monday, October 13.

The awards will be handed out on December 10, the anniversary of Alfred Nobel's death.

Selection process
None of the nominations are announced by the prizes' respective committees, and the Nobel statutes prohibit the judges from discussing their deliberations for 50 years. But those doing the nominating may choose to make their recommendations public.

Uniqueness
A person cannot nominate themselves, though they can be nominated multiple times by others including members of each prize's panel.

Each prize committee operates slightly differently, but they all strive to honour Nobel's wish that the winners have conferred benefits to humankind.

The peace prize committee is the only one that regularly rewards achievements made in the previous year, and the prize is the only one awarded in Oslo, Norway. For the science prizes, awarded in Stockholm, winners often have to wait decades to have their work recognised by the Nobel judges, who want to make sure that any breakthrough stands the test of time.

Nobel Prize 2025 prize money
Each prize carries an award of 11 million Swedish kronor (nearly USD 1.2 million), and the winners also receive an 18-carat gold medal and a diploma. Up to three laureates for each award can share the prize money.

(With inputs from AP)