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Here's who qualifies for the Nobel Peace Prize and how it's awarded

The Nobel prizes were created by Swedish inventor Alfred Nobel.

The Nobel Peace Prize is world-renowned, but many don’t know how and why the winners are chosen.

Let’s connect the dots.

Let's start with a short history lesson. The Nobel prizes were created by Swedish inventor Alfred Nobel. It’s not clear why he wanted a peace prize awarded alongside prizes for science and the arts, but some speculate it was to compensate for his life’s work. 

Alfred Nobel is best remembered for inventing dynamite, and some think creating this prize was to make up for the destructive power he unleashed on the world.

The Nobel peace prize is awarded once a year to a group or person who “has done the most or best to advance fellowship among nations, the abolition or reduction of standing armies and the establishment and promotion of peace."

Not just anyone can nominate contenders. It is limited to members of governments, current heads of state, university professors and past winners.

So who gets to pick the winner? 

The Norwegian Nobel Committee, which is made up of five people appointed by the Norwegian parliament. 

The committee does not release the names of nominees until 50 years have passed, but the people who nominate them can. The winner gets a medal, a diploma and about $1.1 million.