Instituted in the year 1980-81 by Maharana Bhagwat Singh Mewar, the Maharana Mewar Foundation Annual Awards are one of the oldest award schemes in the country to be instituted by a non-profit organisation. It was conceptualised to honour college and school students of Udaipur who had excelled in their studies and gradually broadened the spectrum to felicitate international celebrities, scholars, scientists, academicians, musicians/performers, social activists, environmentalists and people who have broken the mould and provided inspiration to the world around them.

These awards are annually organised by Maharana of Mewar Charitable Foundation (MMCF) which is committed to nurturing centres of excellence in heritage management, fine arts, the performing arts, education, ecological management, philanthropy, spirituality and sports. Unique in having conceived and actualised the practices of 'living heritage', the MMCF is sharing ancient legacies through broad-based and sustainable platforms of development within Rajasthan, in India and through global outreach programmes.