The Nobel Peace Prize was awarded Friday to India's Kailash Satyarthi and Pakistan's Malala Yousafzai for their struggle against the suppression of young people's and children's right to education.
Thorbjorn Jagland, chairman of the Norwegian Nobel Committee, said, "Children must go to school, not be financially exploited."
The Norwegian Nobel Committee received a record 278 nominations for the 2014 prize, 47 of which were for organizations.
Last year's winner was the Organisation for the Prohibition of Chemical Weapons, for its longstanding efforts to "do away with a whole category of weapons of mass destruction."
Each prize carries with it a monetary reward of 8 million Swedish kronor (about $1.1 million) to be divided among the winners.