The Balzan Prize’s aim is to foster culture, the sciences and the most meritorious initiatives in the cause of humanity, peace and brotherhood among peoples throughout the world.

The Prizes are awarded in the subject areas:
literature, moral sciences, and the arts;
physical, mathematical and natural sciences and medicine;
humanities, peace and brotherhood among peoples.

The four subject areas, two in literature, the moral sciences and the arts, and two in the physical, mathematical and natural sciences and medicine, change every year. No more than four prizes may be awarded in any one year.  

As stipulated in the Articles of the Foundation, the frequency of the special Prize for Humanity, Peace and Brotherhood among Peoples is normally at intervals of no less than three years.