The František Palacký Prize honours outstanding creative activities in the fields of science and culture, which have contributed to the prestige of the Czech Republic and Palacký University Olomouc. It was established on the occasion of the bicentennial of František Palacký's birth, on June 14, 1998.
The prize is given by the university rector biennially. The prize carries a sum of 50 000 CZK ( 1800 EUR); contributors include the Town of Hodslavice and the City of Neratovice - Palacký's birthplace and final resting place, respectively). Nominations for the prize can be made by any member of the UP academic community, and are forwarded to their faculty's Academic Council. The committee for awarding the František Palacký Prize decides upon the nominations submitted timely and prepares its recommendations to the UP Academic Council.