Established by The Ray and Diana Harryhausen Foundation based in Edinburgh, the awards aim to recognise the achievements of contemporary animators, whilst celebrating the ongoing legacy of stop-motion animator Ray Harryhausen.

"[3] Walsh told the Puppet Place blog that he hoped that the awards would promote Ray's legacy alongside identifying new talent coming into the animation industry.

Ray Harryhausen's daughter Vanessa Harryhausen told Starburst Magazine that her father had always valued the educational value of his films, and hoped that the awards would continue to inspire new generations of artists.

[5] The winners of the inaugural awards ceremony were announced online on June 29th 2022, marking Ray Harryhausen's birthday.

[1] The first physical awards ceremony took place at The Cameo, Edinburgh on the same date in 2023, followed by a 60th anniversary screening of Jason and the Argonauts.