The Palanca Awards, officially known as the Carlos Palanca Memorial Awards for Literature, is an annual literary competition in the Philippines. Established in 1950, it aims to recognize and promote outstanding literary works in various categories, including fiction, poetry, and essays. The awards are named after Carlos Palanca Sr., a prominent businessman and philanthropist who supported the arts. Winners of the Palanca Awards receive a trophy and cash prizes, and their works are often published in anthologies. The awards have become a prestigious platform for both established and emerging writers, contributing significantly to the development of Philippine literature.