The Carlos Palanca Memorial Awards is an annual literary competition in the Philippines that recognizes outstanding works in various genres. Established in 1950, the awards aim to honor the memory of Carlos Palanca Sr., a prominent businessman and philanthropist. The competition includes categories such as short story, poetry, and essay, encouraging writers to showcase their talents. Winners of the Palanca Awards receive cash prizes and certificates, and their works are often published, gaining wider recognition. The awards have become a prestigious platform for both emerging and established writers, contributing significantly to the development of Philippine literature.