The meaning of PRIZE is something offered or striven for in competition or in contests of chance; also : premium.

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Official prizes often involve monetary rewards as well as the fame that comes with them. Some prizes are also associated with extravagant awarding ceremonies, such as the Academy Awards.

Definition of prize noun from the Oxford Advanced Learner's Dictionary. an award that is given to a person who wins a competition, race, etc. or who does very good work. She was awarded the Nobel …

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Price /praɪs/ and prize /praɪz/ are nouns. … In parts of Asia this plant is prized for its medicinal qualities. I prize that intimacy above everything. I prized the lid off with a spoon. The window had been prized …

PRIZE definition: a reward for victory or superiority, as in a contest or competition. See examples of prize used in a sentence.