The Nobel Peace Prize 2026 will be announced on Friday, October 9, in Oslo. Here is how the world’s most famous peace award is decided.

The prize is awarded by the Norwegian Nobel Committee. The committee has five members chosen by Norway’s parliament. They review hundreds of nominations each year. The names of nominees stay secret for 50 years.

The committee looks for work done for fraternity between nations, the end of standing armies, and the holding of peace congresses. In recent years, winners have included activists, organisations and leaders. Maria Corina Machado won the 2025 prize for her work on democratic rights in Venezuela.

This year, prediction markets have Sudan’s Emergency Response Rooms and Doctors Without Borders near the top. Donald Trump is far down the board at about 2 per cent odds. The announcement is made at 2:30 PM IST on Friday.

The prize carries a medal, a diploma and a cash award funded by Alfred Nobel’s will. The ceremony is held in Oslo on December 10 each year.