The 2019 Nobel Peace Prize will be announced on Friday, with the Norwegian Nobel Committee choosing from a pool of 301 nominations.
Speculation this year has centred on Swedish teen climate activist Greta Thunberg, who in August 2018 began a "school strike" outside the Swedish parliament that inspired a youth-led movement under the Fridays for Future banner.
The result has been millions of people taking part in strikes and demonstrations across the globe.
The laureate or laureates will be revealed in the Norwegian capital Oslo at 11am local time (2000 AEDT).
The tally of nominees, comprising 223 individuals and 78 organisations, is the fourth-highest since 1901.
Ethiopia's Prime Minister Abiy Ahmed is another contender over his role in improving ties with neighbouring Eritrea after years of tension. A third is the UN refugee agency UNHCR.
Last year's winners were Congolese physician Denis Mukwege and Yezidi activist Nadia Murad from Iraq over combating sexual violence in conflict.
Earlier this week, the Nobel prizes in the fields of medicine, physics, chemistry and literature were awarded.
The Nobel Prize in Economics is due next week.
Each prize is worth nine million kronor ($AU1.35 million).
With the exception of economics, the prizes were endowed by Swedish industrialist Alfred Nobel, the inventor of dynamite.
The awards are traditionally presented on December 10, the anniversary of Nobel's death.