The Nobel Prize in Literature is an international award given annually to authors, poets, and playwrights for outstanding contributions to the field of literature. Established in 1901 by the will of Alfred Nobel, the prize recognizes works that demonstrate exceptional literary merit and creativity. Winners of the Nobel Prize in Literature receive a medal, a diploma, and a cash award. The selection process is conducted by the Swedish Academy, which evaluates nominations from various literary figures and organizations worldwide. The prize aims to honor those who have enriched humanity through their written works.