The Caldecott and Newbery Medals are considered the most prestigious American children's book awards.

The awarding process has changed several times over the years, including the use of the term "Honor" for the runner-ups beginning in 1971.

To be eligible for a Caldecott, the book must be published in English, in the United States first, and be drawn by an American illustrator.

An award committee decides on a winner in January or February, voting using a multi-round point system.

The Caldecott was suggested in 1937 by Frederic G. Melcher, former editor of Publishers Weekly, following the establishment of the Newbery Medal in 1921.

[1]: 1  The American Library Association adopted Melcher's suggestion of awarding a medal to the illustrator "who had created the most distinguished picture book of the year.

The obverse scene is derived from Randolph Caldecott's front cover illustration for The Diverting History of John Gilpin (Routledge, 1878, an edition of the 1782 poem by William Cowper), which depicts John Gilpin astride a runaway horse.

[2][4] The reverse is based on "Four and twenty blackbirds baked in a pie", one of Caldecott's illustrations for the nursery rhyme "Sing a Song of Sixpence".

[7] The Medal is "for distinguished illustrations in a picture book and for excellence of pictorial presentation for children".

[7] To be eligible for the Caldecott, the artist must be a US citizen or resident, the book must have been published in English, in the United States first, or simultaneously in other countries.

Consideration is also done to ensure a diversity of libraries (e.g. public and school, small and large), and geographical areas are represented as well.

[9] At ALSC's annual midwinter meeting, held in late January or early February, the committee will discuss the nominations and hold a vote on the winner.

[5]: 40 In 2015, K. T. Horning of the University of Wisconsin–Madison's Cooperative Children's Book Center proposed to ALSC that old discussions of the Newbery and Caldecott be made public in the service of researchers and historians.

According to Leonard Marcus, Where the Wild Things Are's recognition brought its author and illustrator, Maurice Sendak, to national prominence.