The Niwano Peace Prize is given to honor and encourage those devoting themselves to interreligious co-operation in the cause of peace and to make their achievements known. Its foundation hopes that the prize will further promote interreligious co-operation for peace and lead to the emergence of more people devoting themselves to this cause.
The award is given annually and consists of a certificate, a gold medal, and 20 million yen (roughly US$180,000). The screening committee, which decides the recipients, is made up of religious leaders of international stature. They select the recipient from candidates who are nominated by religious leaders and others of intellectual stature around the world.
The Tokyo-based Niwano Peace Foundation was initiated by the Japanese citizen Nikkyō Niwano, founder of the Buddhist lay organization Risshō Kōsei Kai; he was one of the few non-Christian observers of the Second Vatican Council. His son, Nichiko Niwano, is his successor as chairman of the movement, which is dedicated to interreligious dialogue.