The prize is in the form of a medal, the Engineering Science Medal, and an award of $2000. The prize is awarded in recognition of a singularly important contribution to Engineering Science. The recipient may be invited by the Board of Directors to deliver the Engineering Science Lecture at the annual meeting of the Society. The recipient need not be a member of the Society, but becomes a lifetime member upon receipt of the medal. In 2024, the Engineering Science Medal was renamed the Yonggang Huang Engineering Science Medal.