The Institute of International Law is an organization devoted to the study and development of international law, whose membership comprises the world's leading public international lawyers. It was awarded the Nobel Peace Prize in 1904.

The Nobel Peace Prize is one of the five Nobel Prizes established by the will of Swedish industrialist, inventor, and armaments manufacturer Alfred Nobel, along with the prizes in Chemistry, Physics, Physiology or Medicine, and Literature. Since March 1901, it has been awarded annually to people who have "done the most or the best work for fraternity between nations, for the abolition or reduction of standing armies and for the holding and promotion of peace congresses." The Oxford Dictionary of Contemporary History describes it as "the most prestigious prize in the world."