The Prince of Asturias Foundation was founded in the city of Oviedo on 24th September 1980 at a formal ceremony presided over by His Royal Highness the Prince of Asturias, heir to the throne of Spain, who was accompanied by his parents, their Majesties the King and Queen of Spain.

The essential aims of the Foundation are to consolidate links between the Principality and the Prince of Asturias, and to contribute to encouraging and promoting scientific, cultural and humanistic values that form part of mankind's universal heritage. With this purpose, the Prince of Asturias Awards were initiated in 1981, divided into eight categories (Arts, Social Sciences, Communication and Humanities, International Cooperation, Technical and Scientific Research, Letters, Sport and Concord). H.R.H. the Prince of Asturias, D. Felipe de Borbón, presents these Awards each autumn at the Campoamor Theatre in Oviedo. Each of the eight international recipients are awarded 50,000 euros, a specially commissioned Joan Miró sculpture, a diploma and an insignia.

The award presentation ceremony is considered as one of the most important cultural events in the international agenda. Throughout its history, these awards have been honoured with different recognitions, such as UNESCO’s declaration in 2004 acknowledging the extraordinary contribution of these awards to mankind's cultural heritage.

Apart from the activities linked to the Awards, the Foundation has consistently promoted cultural, scientific and social development. It has sponsored several congresses, debates and international symposiums, numerous exhibitions, university courses and artistic activities. It also gives support and assistance to the rural sector of Asturias. The education and promotion of music has also benefited greatly since the creation of the Music Department in 1983. Since then, more than 600 voices have studied at the Choir School. The School incorporates the Foundation’s Choir, the Youth Choir and the Children’s Choir. These choirs encompass the long-existing tradition in Asturias towards music. The International Music School of the Prince of Asturias Foundation is an addition to music teaching in conservatories.