There are 12 albums that get shortlisted for the award every year, and whilst all nominees get an ‘Album of the Year’ trophy, only one can be the overall winner.
And that artist also gets £25,000 too!
Last year, Sam Fender won the Mercury Prize, and donated the prize money to supporting small music venues across the UK.
We’ll have to wait until October to find out this year’s winner, at Newcastle’s Utilita Arena.