The Prince Mahidol Award Foundation is established with the avowed purposes of
- Honouring His Royal Highness Prince Mahidol of Songkla for his exemplary contributions to the advancement of medical, public health, and human services.
- Conferring the Prince Mahidol Award on individual(s) or institution(s) for outstanding performance and/or research in the field of medicine for the benefit of mankind.
- Conferring the Prince Mahidol Award on individual(s) or institution(s) for outstanding contribution in the field of public health for the sake of the well-being of the peoples.
- Promoting public goods and cooperating with other non-profit organizations which share the same purpose.
- Functioning without political affiliation.