The Awards were established in 1987 and have been presented annually since 1988, and the winners are selected by ballot of the Active members of the HWA.

They are named after Irish horror writer Bram Stoker, author of the novel Dracula, among others.

[1][2] Several members of the HWA—including Dean Koontz—were reluctant to endorse such writing awards, fearing it would incite competitiveness rather than friendly admiration.

The HWA therefore went to lengths to avoid mean-spirited competition, they agreed to specifically seek out new and neglected writers and works, and officially issue Awards not based on "best of the year" criteria, but "for superior achievement", which allows for ties.

Members with Active status then vote on works appearing on preliminary ballots.