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The mathematical equivalent of the Nobel Prize (there is no Nobel Prize in mathematics) which is awarded by the International Mathematical Union every four years to one or more outstanding researchers, usually under 40 years of age. The first Fields Medal was awarded in 1936.
See also Burnside Problem, Mathematics Prizes, Poincaré Conjecture, Roth's Theorem, Tau Conjecture
References
MacTutor History of Mathematics Archives. ``The Fields Medal.''
http://www-groups.dcs.st-and.ac.uk/~history/Societies/FieldsMedal.html.
Monastyrsky, M. Modern Mathematics in the Light of the Fields Medals. Wellesley, MA: A. K. Peters, 1997.