The German Book Prize is presented to the best German-language novel just before the start of the Frankfurt Book Fair as an annual award from the Stiftung Buchkultur und Leseförderung des Börsenvereins des Deutschen Buchhandels – the Foundation for Book Culture and the Promotion of Reading of the German Publishers and Booksellers Association. The Prize is intended to draw attention beyond national borders to authors writing in German, to reading and to the keynote medium of the book. Publishing companies can apply for the award by direct nomination of their titles. Unusually, titles still in production when applications are first invited can also be included in the selection process. Furthermore, the German Book Prize represents the guarantee of independent and competent prize judgement: the seven jurors will personally assess all the books that are submitted and that meet the criteria for consideration.

To ensure the greatest possible independence and transparency for the choice of the award-winner, the Börsenverein board has appointed the German Book Prize Academy with representatives of the book and media industry. Their most important task is the selection every year of the jury members who will choose the winner over the course of several selection stages. Organised by the Börsenverein des Deutschen Buchhandels, the German Book Prize is also backed by partners from outside the industry. The main partner of the Book Prize is the Deutsche Bank Foundation. A further partner is the city of Frankfurt am Main.