The Order of the Polar Star is intended as a reward for Swedish and foreign "civic merits, for devotion to duty, for science, literary, learned and useful works and for new and beneficial institutions".

Its motto is, as seen on the blue enameled centre of the badge, Nescit Occasum, a Latin phrase meaning "It knows no decline".

Women and clergymen are not called Knight or Commander, but simply Member (Ledamot).

From the reorganization of the orders in 1975 until 2023, the Order was only awarded to foreigners and members of the royal family, often being awarded to foreign office holders (such as prime and senior ministers) during Swedish state visits.

The new ceremony is held in the White Sea Hall of the Stockholm Palace, decorated with the banners and insignia of the royal orders.