Laureates of the award receive the Centenary Medal and a $10,000.00 prize.
Until 1997 the award was presented to an individual who made distinguished contributions to northern Canada through their scientific research. In recognition of advancements in how knowledge is produced and shared, the eligibility requirements for the award were reconsidered. They now include nominees who possess and share Indigenous knowledge and, to recognize the value of collaboration and the role played by organizations in the North, teams of people can also be nominated.
This award is presented by the Canadian government.