On November 27, 1895, a year before his death, Alfred Nobel signed the famous will which would implement some of the goals to which he had devoted so much of his life. Nobel stipulated in his will that most of his estate, more than SEK 31 million (today approximately SEK 1,500 million) should be converted into a fund and invested in "safe securities."

The income from the investments was to be "distributed annually in the form of prizes to those who during the preceding year have conferred the greatest benefit on mankind.

The list below shows the Prize amount in Swedish kronor (SEK) through the years.
The Prize amount for 2006 is set at Swedish kronor (SEK) 10 million per full Prize.

Below the list is a diagram comparing the nominal Prize amount since 1901 with its real value in 2006 terms.