The prize was created in 1926 by ten art critics awaiting the results of deliberation of the jury of the Prix Goncourt.

The Renaudot jurors always pick an alternative laureate in case their first choice is awarded the Prix Goncourt.

In 2013, the Prix Redaudot essay revived the career of Gabriel Matzneff, which collapsed in 2020 as his paedophilia – long known and defended by his literary peers, including the Renaudot jurors – became more widely known through a report of one of his victims, Vanessa Springora.

In the view of The New York Times, the episode illustrated "the self-perpetuating and impenetrable nature of many of France's elite institutions", including the Prix Renaudot, where "control often rests with a small, established group — overwhelmingly older, white men — that rewards like-minded friends", disregarding conflicts of interest.

French media also criticized the prize, and one judge, Jérôme Garcin, left the jury, but no changes took place.