Despite their lack of financial endowment—the prizes consist of a simple bronze medal designed by the artist González de Ubieta—the awards have achieved a high level of prestige due to their independence, as they are not awarded by the film industry itself or by its corporate sponsors.

[5] However, a new CEC leadership, led by Paul Naschy, relaunched the awards in 1991.

Starting from the first edition of the Premios, categories awarded to domestic productions predominated.

Various notable Spanish films have received this honour throughout the history of the awards, including Surcos, Plácido, Chimes at Midnight, and El espíritu de la colmena.

[8] Well-known award-winning actors include Fernando Fernán Gómez, Ana Mariscal, José Luis López Vázquez, Francisco Rabal, Emma Penella, Fernando Rey, Sara Montiel, Javier Bardem,[9] Concha Velasco,[10] Ricardo Darín, and Penélope Cruz.

An award was briefly conferred to the best foreign actor and actress in a Spanish film.

Initially limited to a single winner, it was later expanded to honour the best new director, actor, and actress.