[1] The awards are presented by the Laureus Sport for Good Foundation, a global organisation involved in more than 150 charity projects supporting 500,000 young people.

[4] As of 2020[update], a shortlist of six nominees for the award comes from a panel composed of the "world's leading sports editors, writers and broadcasters".

[6][7][8] The inaugural winner of the award was the American golfer Tiger Woods who finished the 1999 season with eight wins, a feat not achieved since 1974, including the PGA Championship.

The 2003 winner of the Laureus World Sports Award for Sportsman of the Year was the American road cyclist Lance Armstrong.

[13] Tennis players dominate the winners list, with eleven awards, while athletes and Formula One drivers have won four times, and golfers twice.