Once a year the Foundation offers the Werner Herzog Film Award in cooperation with the Film Archive Munich. The award presentation ceremony will take place at the Film Archive in Munich and will be accompanied by a symposium. The award is meant for innovative works by filmmakers all around the world.

The Werner Herzog Film Award endows Euro 5.000 which can be increased in individual cases. The Foundation and Werner Herzog nominate the jury in cooperation with the Film Archive Munich and determine the procedure for the selection of the laureate.

The prize can go to a feature film, a documentary, a filmmaker, an actor, or anyone working in the art of cinema. It will be given to a special achievement in innovation, courage and vision. The award is open to citizens of all countries. There is no application procedure, and no competition.