The Nobel Foundation increases the prize by 9%: 1.2 million dollars for each of the six categories

In 2026, the Nobel Foundation increased the value of the prize awarded to laureates in each category, with the award reaching 12 million Swedish kronor, equivalent to approximately $1.22 million. The measure represents a 9% increase compared with 2025, when the prize amounted to 11 million kronor.

Hanna Stjärne, executive director of the Nobel Foundation, said the increase is intended to support the prize’s long-term importance and maintain the financial value of the award over time.

The Nobel laureates in Physics, Chemistry, Peace, Literature, Economics and Medicine or Physiology will be announced between October 5 and 12, 2026. This year’s edition marks 125 years since the first Nobel Prizes were awarded.

The distinctions were established through the will of Alfred Nobel, the businessman and inventor of dynamite. In 1901, at the first edition, the prize in each category was worth 150,782 Swedish kronor.