The Prize Council, headed by His Royal Highness Prince Khalid Bin Sultan Bin Abdulaziz, includes leading scholars from around the world. The General Secretariat of the Prize is headquartered in the Prince Sultan Research Center for Environment, Water and Desert, at King Saud University in Riyadh, Saudi Arabia. 

This internationally acclaimed scientific prize has proven to be one of Saudi Arabia's key contributions to water-related issues on a global scale, issues which represent some of the world's most pressing humanitarian, economic and political concerns. The Prize reflects the true image of a nation committed to the environment. It represents a call to the people of the world – a call for international responsibility.

During the first two rounds of the Prize (2002-2004) and (2004-2006) the Prize consisted of five specialized branches:

These were as follows:

1. Surface water
2. Ground water
3. Alternative (non-traditional) water resources
4. Water resources Management
5. Protection of water resources

Starting with the Third Award (2006-2008), "Water Resources Management" and "Protection of Water Resources" were were merged into a single branch called "Water Resources Management and Protection".

A new prize, The Creativity Prize, was inaugurated for the Third Award (2006-2008), the monetary award for which - at 1 million Saudi riyals (about $266,000) - is double that of the other prizes.

Unlike the other branches of the Prize for which scientist could nominate themselves, individuals nominated to the Creativity Prize must have their nominations put forward by universities and organizations on their behalf.

The Creativity Prize is not restricted to specific topics. Instead, its criteria are defined by general guidelines, allows the Creativity Prize to cover a broad range of water-related subjects.

Though nominations were accepted for the Creativity Prize for the Third Award, it was not awarded dring that round, since the Prize Committee determined that no single nominated work distingushed itself.

The Creativity Prize is awarded to work that the Prize Committee deems to be a "breakthrough" in any water-related field. The work might be an invention, a research paper, or a new technology. It can relate to any branch of any water-related discipline. It might contribute to increasing available water resources, or to alleviating scarcity, or to minimizing pollution. It might make a material contribution to water conservation or to effective water management. The work should provide a solution which is useful to society, contribute to development and social upliftment, be practical, environmentally friendly, and cost-effective. 

1. The Prize, in conjunction with the United Nations and UNESCO, is undertaking to establish online an extensive international portal for water research, which will provide information about experts and organizations working in the field.
2. he General Secretariat of the Prize possesses an extensive library which includes, alongside books and journals in water-related fields, all of the research nominated to the Prize throughout its history. This research is made available for the benefit of specialist bodies engaged in research and applied water technologies in coordination with the original researchers.
3. The Prize sponsors the Prince Sultan Bin Abdulaziz International Prize's Chair for Water Research located at the Prince Sultan Research Center for Environment, Water, and Desert. The Chair, in turn, supports research into rain and floodwater harvesting.
4. In conjunction with King Saud University and the Saudi Ministry of Water and Electricity, the Prize organizes a bi-annual international conference that is held concurrently with the Prize's awards ceremony. The 3rd Conference hosted workshops and seminars on the ministerial level.
5. The Prize, in conjunction with the United Nations, UNESCO, and the King Abdulaziz City for Science & Technology, participated in organizing the International Conference on the Use of Space Technology for Water Management held in Riyadh.
6. The Prize is one of the intergovernmental and non-governmental organizations having permanent observer status on the United Nations Committee on the Peaceful Uses of Outer Space (COPUOS), and as such, the Prize is part of the delegation representing Saudi Arabia at the COPUOS meetings of held annually in Vienna.
7. The Prize is a gold-level sponsor of a number of international conferences and exhibitions around the world, sponsoring at least 10 to 15 different conferences and exhibitions during each round of the Prize.
8. The Prize is a member of the Arab Water Council's Board of Governors, and as such actively participates in all of the Council's meetings and conferences. It also provides support for some of the Arab Water Council's activities.