The Russell Varian Prize was an international scientific prize awarded for a single, high-impact and innovative contribution in the field of nuclear magnetic resonance (NMR), that laid the foundation for the development of new technologies in the field. It honored the memory of Russell Varian, the pioneer behind the creation of the first commercial NMR spectrometer and the co-founder, in 1948, of Varian Associates, one of the first high-tech companies in Silicon Valley. The prize carried a monetary award of €15,000 and it was awarded annually between the years 2002 and 2015 (except for 2003) by a committee of experts in the field. The award ceremony alternated between the European Magnetic Resonance (EUROMAR) Conference and the International Council on Magnetic Resonance in Biological Systems (ICMRBS) Conference. Originally, the prize was sponsored by Varian, Inc. and later by Agilent Technologies, after the latter acquired Varian, Inc. in 2010. The prize was discontinued in 2016 after Agilent Technologies closed its NMR division.