The Raoul Wallenberg Award is bestowed by The Raoul Wallenberg Committee of the United States on "individuals, organizations, and communities whose courage, selflessness and success against great odds personified those of Raoul Wallenberg himself." It has been awarded periodically since 1985, when the inaugural award was given to Wallenberg himself.

Raoul Gustaf Wallenberg was a Swedish architect, businessman, diplomat, and humanitarian. He saved thousands of Jews in German-occupied Hungary during the Holocaust from German Nazis and Hungarian fascists during the later stages of World War II. While serving as Sweden's special envoy in Budapest between July and December 1944, Wallenberg issued protective passports and sheltered Jews in buildings which he declared as Swedish territory.