Alfred Nobel was born on 21 October 1833 in Stockholm, Sweden, into a family of engineers. He was a chemist, engineer, and inventor. In 1894, Nobel purchased the Bofors iron and steel mill, which he made into a major armaments manufacturer. Nobel also invented ballistite. This invention was a precursor to many smokeless military explosives, especially the British smokeless powder cordite. As a consequence of his patent claims, Nobel was eventually involved in a patent infringement lawsuit over cordite. Nobel amassed a fortune during his lifetime, with most of his wealth coming from his 355 inventions, of which dynamite is the most famous.

There is a popular story about how, in 1888, Nobel was astonished to read his own obituary, titled "The Merchant of Death Is Dead", in a French newspaper. It was Alfred's brother Ludvig who had died; the obituary was eight years premature. The article disconcerted Nobel and made him apprehensive about how he would be remembered. This inspired him to change his will. Historians have been unable to verify this story and some dismiss the story as a myth.

On 10 December 1896, Alfred Nobel died in his villa in San Remo, Italy, from a cerebral haemorrhage. He was 63 years old.

Nobel wrote several wills during his lifetime. He composed the last over a year before he died, signing it at the Swedish–Norwegian Club in Paris on 27 November 1895. To widespread astonishment, Nobel's last will specified that his fortune be used to create a series of prizes for those who confer the "greatest benefit on mankind" in physics, chemistry, physiology or medicine, literature, and peace. Nobel bequeathed 94% of his total assets, 31 million SEK (c. US$186 million, €150 million in 2008), to establish the five Nobel Prizes. Owing to skepticism surrounding the will, it was not approved by the Storting in Norway until 26 April 1897. The executors of the will, Ragnar Sohlman and Rudolf Lilljequist, formed the Nobel Foundation to take care of the fortune and to organise the awarding of prizes.

Nobel's instructions named a Norwegian Nobel Committee to award the Peace Prize, the members of which were appointed shortly after the will was approved in April 1897. Soon thereafter, the other prize-awarding organisations were designated. These were the Karolinska Institute on 7 June, the Swedish Academy on 9 June, and the Royal Swedish Academy of Sciences on 11 June. The Nobel Foundation reached an agreement on guidelines for how the prizes should be awarded; and, in 1900, the Nobel Foundation's newly created statutes were promulgated by King Oscar II.
According to his will and testament read in Stockholm on 30 …

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The award process is similar for all of the Nobel Prizes, the main difference being who can make nominations for each of them.
Nomination forms are sent by the Nobel Committee to about 3,000 individuals, usually in September the year before the prizes are awarded. These individuals are generally prominent academics working in a relevant area. Regarding the Peace Prize, inquiries are also sent to governments, former Peace Prize laureates, and current or former members of the Norwegian Nobel Committee. The deadline for the return of the nomination forms is 31 January of the year of the award. The Nobel Committee nominates about 300 potential laureates from these forms and additional names. The nominees are not publicly named, nor are they told that they are being considered for the prize. All nomination records for a prize are sealed for 50 years from the awarding of the prize.
The Nobel Committee then prepares a report reflecting the advice of experts in the relevant fields. This, along with the list of preliminary candidates, is submitted to the prize-awarding institutions. There are four awarding institutions for the six prizes awarded:
• Royal Swedish Academy of Sciences – Chemistry; Physics; Economics
• Nobel Assembly at the Karolinska Institute – Physiology / Medicine
• Swedish Academy – Literature
• Norwegian Nobel Committee – Peace
The institutions meet to choose the laureate or laureates in each field by a majority vote. Their decision, which cannot be appealed, is announced immediately after the vote. A maximum of three laureates and two different works may be selected per award. Except for the Peace Prize, which can be awarded to institutions, the awards can only be given to individuals. The winners are announced by the awarding institutions during the first two weeks of October.
Although posthumous nominations are not presently permitted, individuals who died in the months between their nomination and the decision of the prize committee were originally eligible to receive the prize. This has occurred twice: the 1931 Literature Prize awarded to Erik Axel Karlfeldt, and the 1961 Peace Prize awarded to UN Secretary General Dag Hammarskjöld. Since 1974, laureates must be thought alive at the time of the October announcement. There has been one laureate, William Vickrey, who in 1996 died after the prize (in Economics) was announced but before it could be presented. On 3 October 2011, the laureates for the Nobel Prize in Physiology or Medicine were announced; however, the committee was not aware that one of the laureates, Ralph M. Steinman, had died three days earlier. The committee was d…

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Except for the Peace Prize, the Nobel Prizes are presented in Stockholm, Sweden, at the annual Prize Award Ceremony on 10 December, the anniversary of Nobel's death. The recipients' lectures are normally held in the days prior to the award ceremony. The Peace Prize and its recipients' lectures are presented at the annual Prize Award Ceremony in Oslo, Norway, usually on 10 December. The award ceremonies and the associated banquets are typically major international events. The Prizes awarded in Sweden's ceremonies are held at the Stockholm Concert Hall, with the Nobel banquet following immediately at Stockholm City Hall. The Nobel Peace Prize ceremony has been held at the Norwegian Nobel Institute (1905–1946), at the auditorium of the University of Oslo (1947–1989), and at Oslo City Hall (1990–present).

The highlight of the Nobel Prize Award Ceremony in Stockholm occurs when each Nobel laureate steps forward to receive the prize from the hands of the King of Sweden. In Oslo, the chairman of the Norwegian Nobel Committee presents the Nobel Peace Prize in the presence of the King of Norway and the Norwegian royal family. At first, King Oscar II did not approve of awarding grand prizes to foreigners.
After the award ceremony in Sweden, a banquet is held in the Blue Hall at the Stockholm City Hall, which is attended by the Swedish Royal Family and around 1,300 guests. The Nobel Peace Prize banquet is held in Norway at the Oslo Grand Hotel after the award ceremony. Apart from the laureate, guests include the president of the Storting, on occasion the Swedish prime minister, and, since 2006, the King and Queen of Norway. In total, about 250 guests attend.
According to the statutes of the Nobel Foundation, each laureate is required to give a public lecture on a subject related to the topic of their prize. The Nobel lecture as a rhetorical genre took decades to reach its current format. These lectures normally occur during Nobel Week (the week leading up to the award ceremony and banquet, which begins with the laureates arriving in Stockholm and normally ends with the Nobel banquet), but this is not mandatory. The laureate is only obliged to give the lecture within six months of receiving the prize, but some have happened even later. For example, US President Theodore Roosevelt received the Peace Prize in 1906 but gave his lecture in 1910, after his term in office. The lectures are organised by the same association which selected the laureates.

Military cemeteries in every corner of the world are silent testimony to the failure of national leaders to sanctify human life. — Yitzhak Rabin, 1994 Nobel Peace Prize lecture
From 1959 to 1990, Swedish journalist Bengt Feldreich gathered the science prize laureates to a discussion, broadcast as Snill…

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