Four Balzan prizes are given annually to scholars, artists, and scientists who have conducted innovative research in a broad range of fields. Palis won for his contributions to the mathematical theory of complex systems.
The awards are named after Eugenio Balzan (1874-1953), former part-owner of the Italian daily Corriere della Sera, who left Italy in 1933 in protest against fascism.
Each recipient receives a cash prize of USD740,000.
For details, please see "The Balzan Prizewinners 2010" on the Balzan website.