[2] The prize is awarded annually to a new work of fiction considered to exemplify the art of storytelling, by a five-person panel consisting of fellow authors.
[3] Unlike the Mishima Yukio Prize, which was established at the same time and focuses on literary fiction, the Yamamoto Shūgorō Prize is more broad, encompassing a wide range of genre fiction that includes historical and period fiction, mysteries, fantasy, erotica, and more.
[4] Notable winners have included Banana Yoshimoto, whose winning novel Goodbye Tsugumi was later published in English, erotic and romance novelist Misumi Kubo, and crime fiction and thriller author Kanae Minato.
Several prize winners have gone on to win the Naoki Prize, including Riku Onda, Miyuki Miyabe, Kaori Ekuni, and Honobu Yonezawa.
[5] An official list of winning and nominated works is maintained by Shinchosha, the prize sponsor.