The International Prize in Statistics is awarded every two years to an individual or team "for major achievements using statistics to advance science, technology and human welfare".

The award ceremony takes place during the World Statistics Congress.

[4] The prize is awarded by the International Prize in Statistics Foundation, which comprises representatives of the following major learned societies: In addition to recognizing the contributions of a statistician, the Foundation also aims at educating the public about statistical innovations and their impact on the world and gaining wider recognition for the field.

[5] The recipient of the prize is chosen by a selection committee comprising international experts in the field.

As of May 2022, the members of the selection committee are Yoav Benjamini, Francisco Cribari-Neto, Vijay Nair, Sonia Petrone, Nancy Reid, Sylvia Richardson, and Jane-Ling Wang.