In memory of the late Prime Minister Rajiv Gandhi, this award was instituted in 1991-92 to honour "the most spectacular and outstanding performances. A cash prize of Rs. 3 lakhs, a blazer, tie/scarf and travel expenses to and from Delhi make up this handsome award.
To qualify for this award, a sportsperson or team must take part in discipline that is included in the Olympics, Asian Games or Commonwealth Games, or be from the arena Billiards, Snooker and Chess.
The first awardee was chess player Vishwanathan Anand. A person can receive this award only once in his lifetime and must be nominated for the award by a Member of Parliament, State Governments, Sports Authority of India or national sports federations.