The prize is awarded on behalf of all Norwegian students, and is administrated by the Student Peace Prize Secretariat in Trondheim, which appoints a national nominations committee with representatives from universities and colleges in Norway, as well as an independent Peace Prize Committee that awards the prize.
Nagrada se dodjeljuje u ime svih studenata u Norveškoj, a za nju je zadužen Ured studentske mirovne nagrade u Trondheimu, koji imenuje Nacionalno vijeće za nominacije s predstavnicima sveučilišta i fakulteta u Norveškoj, kao i neovisni Odbor za mirovnu nagradu koji istu i dodjeljuje.