The Shaw Prize, established under the auspices of Run Run Shaw in November 2002, is an international award to honor individuals who are active in their respective fields and who have recently achieved distinguished and significant advances, who have made outstanding contributions in academic and scientific research or applications, or who in other domains have achieved excellence.

The award is dedicated to furthering societal progress, enhancing quality of life, and enriching humanity's spiritual civilization.

The Shaw Prize consists of three annual awards: the Prize in Astronomy, the Prize in Life Science and Medicine, and the Prize in Mathematical Sciences. Each prize carries a monetary award of $1 million. The nomination process begins in September, the winners are announced in the summer and the prizes are presented in autumn the following year.

The Shaw Prize is managed and administered by The Shaw Prize Foundation based in Hong Kong.