The Palanca Award is a prestigious literary award in the Philippines, established in 1950. It aims to recognize and promote outstanding literary works in various categories, including fiction, poetry, and essays. Named after the Spanish word for "lever," the award encourages writers to elevate their craft and contribute to the country's literary heritage. The award is administered by the Carlos Palanca Memorial Awards for Literature and is open to both established and emerging writers. Winning a Palanca Award is considered a significant achievement in the Philippine literary community, often leading to greater recognition and opportunities for authors.