The awards ceremony is held annually and occurs most commonly in March, and broadcast delayed on Myx.

Myx viewers from all over the Philippines decide the winners in 17 major categories via SMS text messaging by 2010 it is 60% fan votes through internet and 40% artists votes.

[1] Sarah Geronimo and Parokya Ni Edgar share the record for most awards won in a single night with six each, in 2009 and 2012 respectively.

[1] Overall, Sarah Geronimo is the most awarded nominee in MYX history since the show's inception in 2006.

[1] The Myx Magna Award is given annually to honor a music icon's exemplary contribution to the industry.