The publisher of the Tammsaare Novel Award is the city of Tallinn in cooperation with the Estonian Writers' Union and the Tallinn Book Center.

The prize has been awarded every five years since 1998. From 2018, the amount of the prize fund is 4,000 euros, with which one work will be awarded.

The purpose of the novel award is to recognize Estonian writers for an original work (or works), the time of publication of which falls within the five years preceding the anniversary year of A.H. Tammsaare, and whose novel or novels have best demonstrated mastery of the genre, artistic influence, and the power of thought of the message.