The prize is awarded to the best Swedish book of the year, in three categories.

Since 1992, the prize has been awarded in the categories Fiction, Non-Fiction, and Children's and Youth Literature.

The electors come from across the country, and comprise booksellers, librarians and literary critics.

The books receiving the largest number of votes in each category win the prize.

Winners receive 100,000 Swedish krona and a bronze statuette by the artist Michael Fare.