The Seoul Peace Prize was established in the year 1990 to commemorate the success of the 24th Olympic Games held in Seoul, South Korea, an event in which 160 nations from across the world took part, creating harmony and friendship and a worldwide atmosphere of peace and reconciliation.

The Seoul Peace Prize was established to crystallize the Korean people's yearning for peace on the Korean Peninsula and in the rest of the world.

The prize has been awarded biennially to those individuals who have made their mark through contributions to the harmony of mankind, reconciliation between nations and to world peace. Past laureates include distinguished global personalities like former UN Secretary General Kofi Annan, German Chancellor Angela Merkel, and renowned international relief organizations like Doctors Without Borders and Oxfam.

After assessing over a hundred candidates proposed by over 1300 nominators from around the world, the award committee decided to bestow the prize on Narendra Modi.