The Foundation established the Niwano Peace Prize to honor and encourage those who are devoting themselves to interreligious cooperation in the cause of peace, and to make their achievements known as it is Foundation’s hope that this prize will further promote interreligious cooperation for peace and lead to the emergence of ever more people devoting themselves to this cause.

The prize is awarded annually to a living individual or an organization that is making a significant contribution to world peace through promoting, interreligious cooperation.
A screening committee made up of religious leaders of international stature selects the recipient from among candidates nominated by religious leaders and other persons of intellectual stature around the world.
-Nature of Award Ceremony-
The presentation ceremony is held in Tokyo in May. The recipient is awarded a main prize, and two others. The recipient delivers a commemorative address following the presentation ceremony.
-Nature of Award-
1. A certificate
2. A medal
3. Monetary prize (20,000,000 yen)