Definition of the Booker Prize from the Oxford Advanced Learner's Dictionary

the Booker Prize

(also the Man Booker Prize)
a prize that is given each autumn for the best novel by a citizen of the Commonwealth or the Republic of Ireland published that year. New judges are chosen each year and include famous critics, writers and academics. The prize was first given by Booker, a large food company, in 1968. Since 2002 the Man Group has provided the money for the prize, which is £50000. In 2004 a second Booker Prize was announced, the Man Booker International Prize of £60000, given once every two years for the best novel available in English by an author from any country in the world.